AtriCure, Inc. (NASDAQ:ATRC) Receives $42.00 Average Price Target from Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been given an average rating of “Buy” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $42.00.

ATRC has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped 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. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Needham & Company LLC boosted their target price on shares of AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their price target on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI purchased a new stake in shares of AtriCure in the third quarter valued at about $28,000. Comerica Bank grew its stake in shares of AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after buying an additional 1,043 shares during the period. Quest Partners LLC grew its stake in shares of AtriCure by 38.3% in the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock valued at $134,000 after buying an additional 1,626 shares during the period. nVerses Capital LLC increased its holdings in shares of AtriCure by 733.3% during the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after buying an additional 4,400 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its position in shares of AtriCure by 32.1% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock valued at $222,000 after buying an additional 2,368 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Stock Performance

ATRC opened at $30.05 on Friday. The stock has a market cap of $1.47 billion, a P/E ratio of -36.20 and a beta of 1.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The firm has a fifty day moving average price of $33.23 and a 200 day moving average price of $27.41. AtriCure has a 1 year low of $18.94 and a 1 year high of $39.04.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.02. The business had revenue of $115.91 million for 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 revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.20) EPS. Equities research analysts anticipate that AtriCure will post -0.72 earnings per share for the current year.

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.