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

Shares of AtriCure, Inc. (NASDAQ:ATRC) have received a consensus rating of “Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $42.44.

A number of research analysts have issued reports on ATRC shares. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Needham & Company LLC lowered their target price on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Piper Sandler reduced their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus lowered their price objective on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their target price on AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st.

AtriCure Trading Up 2.9 %

Shares of AtriCure stock opened at $28.75 on Friday. The business has a 50 day moving average price of $27.25 and a 200 day moving average price of $24.24. The company has a market capitalization of $1.37 billion, a P/E ratio of -35.94 and a beta of 1.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.93. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.00.

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 the consensus estimate of ($0.17). The business had revenue of $116.27 million for the quarter, compared to the consensus estimate of $116.24 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) earnings per share. Sell-side analysts anticipate that AtriCure will post -0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AtriCure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank raised its position in AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares during the period. nVerses Capital LLC raised its holdings in shares of AtriCure by 733.3% during the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after buying an additional 4,400 shares during the period. Quest Partners LLC lifted its position in AtriCure by 38.3% during the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after acquiring an additional 1,626 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new position in AtriCure in the 1st quarter worth approximately $224,000. Finally, ProShare Advisors LLC grew its position in AtriCure by 8.5% in the first quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock valued at $255,000 after acquiring an additional 659 shares in the last quarter. Institutional investors and hedge funds 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.