AtriCure (NASDAQ:ATRC) Stock Price Expected to Rise, UBS Group Analyst Says

AtriCure (NASDAQ:ATRC) had its price objective upped by UBS Group from $35.00 to $40.00 in a research report report published on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the medical device company’s stock.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. BTIG Research cut their target price on shares of 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 lifted their target price on shares of AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler lowered their price target on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

AtriCure Stock Performance

Shares of ATRC stock opened at $34.83 on Wednesday. The company has a fifty day moving average price of $27.46 and a two-hundred day moving average price of $24.30. AtriCure has a one year low of $18.94 and a one year high of $43.00. The stock has a market cap of $1.66 billion, a P/E ratio of -43.54 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 (NASDAQ:ATRC) last issued its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.02. The business had revenue of $115.91 million during the quarter, compared to the consensus estimate of $112.23 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. AtriCure’s revenue was up 17.9% on a year-over-year basis. During the same period last year, the business posted ($0.20) EPS. As a group, equities analysts predict that AtriCure will post -0.77 EPS for the current year.

Insider Transactions at AtriCure

In other news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value of $84,245.00. Following the completion of the sale, the director now directly owns 8,970 shares in the company, valued at approximately $215,907.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in AtriCure by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock worth $170,100,000 after buying an additional 76,146 shares in the last quarter. Norden Group LLC acquired a new stake in shares of AtriCure during the 1st quarter worth approximately $440,000. Diversify Advisory Services LLC acquired a new stake in shares of AtriCure during the 1st quarter worth approximately $258,000. GSA Capital Partners LLP increased its stake in AtriCure by 65.7% in the first quarter. GSA Capital Partners LLP now owns 35,813 shares of the medical device company’s stock valued at $1,089,000 after acquiring an additional 14,194 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in AtriCure by 17.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 10,462 shares of the medical device company’s stock valued at $318,000 after purchasing an additional 1,562 shares in the last quarter. 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.