AtriCure, Inc. (NASDAQ:ATRC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been assigned an average rating of “Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $43.11.

A number of research firms recently issued reports on ATRC. Canaccord Genuity Group raised their target price on shares of AtriCure from $49.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group raised their price target on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BTIG Research cut their price objective on AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer upped their price target on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th.

Institutional Trading of AtriCure

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of AtriCure by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after acquiring an additional 32,676 shares during the period. Y Intercept Hong Kong Ltd bought a new position in AtriCure during the third quarter worth about $614,000. Wellington Management Group LLP boosted its holdings in AtriCure by 0.4% during the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock valued at $43,291,000 after purchasing an additional 6,045 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in AtriCure by 14.6% during the third quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock valued at $18,621,000 after purchasing an additional 84,700 shares in the last quarter. Finally, State Street Corp grew its stake in shares of AtriCure by 4.9% in the 3rd quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock valued at $37,710,000 after purchasing an additional 63,002 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Stock Performance

ATRC opened at $36.34 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. The company has a market cap of $1.77 billion, a PE ratio of -43.78 and a beta of 1.41. The stock has a 50-day moving average of $30.24 and a 200-day moving average of $25.52. AtriCure has a 52-week low of $18.94 and a 52-week high of $43.00.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The firm had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. As a group, equities research analysts forecast that AtriCure will post -0.72 earnings per share for the current fiscal year.

AtriCure Company Profile

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.