AtriCure (NASDAQ:ATRC) Given New $51.00 Price Target at Needham & Company LLC

AtriCure (NASDAQ:ATRC) had its target price hoisted by Needham & Company LLC from $40.00 to $51.00 in a report issued on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the medical device company’s stock.

A number of other equities research analysts also recently weighed in on ATRC. UBS Group lifted their target price on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer raised their price objective on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their target price on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $40.00 price target on shares of AtriCure in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.38.

AtriCure Trading Down 0.3 %

NASDAQ:ATRC opened at $39.50 on Wednesday. AtriCure has a 52 week low of $18.94 and a 52 week high of $41.05. 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 firm’s fifty day moving average is $33.90 and its 200-day moving average is $29.27. The firm has a market cap of $1.93 billion, a P/E ratio of -47.59 and a beta of 1.42.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The business had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. Equities analysts expect that AtriCure will post -0.75 earnings per share for the current year.

Institutional Investors Weigh In On AtriCure

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its holdings in AtriCure by 12.8% during the 2nd quarter. Renaissance Technologies LLC now owns 171,700 shares of the medical device company’s stock worth $3,910,000 after purchasing an additional 19,500 shares in the last quarter. Hsbc Holdings PLC raised its position in AtriCure by 73.5% in the 2nd quarter. Hsbc Holdings PLC now owns 102,610 shares of the medical device company’s stock valued at $2,380,000 after buying an additional 43,466 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in AtriCure by 187.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 110,669 shares of the medical device company’s stock valued at $2,520,000 after acquiring an additional 72,200 shares in the last quarter. Sei Investments Co. boosted its holdings in AtriCure by 68.2% during the 2nd quarter. Sei Investments Co. now owns 38,316 shares of the medical device company’s stock worth $872,000 after acquiring an additional 15,534 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in shares of AtriCure by 12.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 23,065 shares of the medical device company’s stock worth $525,000 after acquiring an additional 2,550 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

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.