Analysts Set AtriCure, Inc. (NASDAQ:ATRC) PT at $42.00

Shares of AtriCure, Inc. (NASDAQ:ATRC) have received a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $42.00.

A number of equities research analysts have issued reports on ATRC shares. Oppenheimer boosted their price target on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of AtriCure in a report on Monday. Canaccord Genuity Group lifted their price target on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $40.00 price target on shares of AtriCure in a research report on Tuesday, December 17th. Finally, UBS Group raised their price objective on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th.

Hedge Funds Weigh In On AtriCure

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its stake in AtriCure by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock worth $1,569,000 after purchasing an additional 484 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AtriCure by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after buying an additional 32,676 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of AtriCure in the third quarter worth about $614,000. Wellington Management Group LLP boosted its stake 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 buying an additional 6,045 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in AtriCure by 14.6% during the 3rd quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock valued at $18,621,000 after buying an additional 84,700 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

AtriCure Stock Up 6.6 %

ATRC opened at $36.97 on Thursday. AtriCure has a twelve month low of $18.94 and a twelve month high of $39.04. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $33.81 and a 200-day moving average price of $28.78. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -44.54 and a beta of 1.42.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The business had revenue of $115.91 million during the quarter, compared to analyst estimates 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 period in the previous year, the business earned ($0.20) EPS. Equities research analysts forecast that AtriCure will post -0.72 earnings per share for the current 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.