AtriCure, Inc. (NASDAQ:ATRC) Receives Average Recommendation of “Buy” from Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been assigned an average rating of “Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $43.11.

A number of research analysts have issued reports on the company. Needham & Company LLC upped their price objective on AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price target on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lowered their price objective on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, UBS Group lifted their price target on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th.

Hedge Funds Weigh In On AtriCure

Hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System boosted its stake in AtriCure by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock worth $308,000 after purchasing an additional 517 shares during the period. ProShare Advisors LLC boosted its position in shares of 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 during the period. Bank of Montreal Can grew its stake in AtriCure by 4.0% during the second quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company’s stock valued at $488,000 after acquiring an additional 831 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in AtriCure during the 3rd quarter worth approximately $28,000. Finally, Comerica Bank lifted its stake in AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after purchasing an additional 1,043 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Stock Down 0.6 %

ATRC opened at $35.79 on Wednesday. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $42.99. The firm has a market capitalization of $1.74 billion, a P/E ratio of -43.12 and a beta of 1.41. The company’s 50-day moving average is $31.26 and its 200 day moving average is $26.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. The firm had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.20) EPS. Research analysts expect 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.