Brokerages Set AtriCure, Inc. (NASDAQ:ATRC) Price Target at $42.44

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been assigned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $42.44.

A number of analysts recently weighed in on ATRC shares. JPMorgan Chase & Co. decreased their price objective on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. BTIG Research decreased their price target on AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC cut their price objective on AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Finally, Stifel Nicolaus lowered their price target on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, July 31st.

AtriCure Price Performance

Shares of ATRC opened at $27.44 on Tuesday. The business has a 50-day simple moving average of $25.27 and a two-hundred day simple moving average of $24.36. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.00. The stock has a market cap of $1.31 billion, a PE ratio of -34.30 and a beta of 1.43. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17). AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The business had revenue of $116.27 million during the quarter, compared to analyst estimates of $116.24 million. During the same quarter last year, the business earned ($0.12) EPS. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. Analysts anticipate that AtriCure will post -0.77 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Maggie Yuen sold 3,500 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. Hood River Capital Management LLC acquired a new position in shares of AtriCure during the second quarter worth approximately $40,422,000. First Light Asset Management LLC increased its stake in AtriCure by 42.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock valued at $44,736,000 after purchasing an additional 581,843 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in AtriCure by 27.3% during the first quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock worth $81,556,000 after buying an additional 575,605 shares during the last quarter. Millennium Management LLC lifted its stake in shares of AtriCure by 132.5% in the second quarter. Millennium Management LLC now owns 952,765 shares of the medical device company’s stock valued at $21,694,000 after buying an additional 543,023 shares in the last quarter. Finally, Natixis acquired a new position in shares of AtriCure during the first quarter valued at about $9,126,000. Institutional investors own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.