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

Shares of AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) have earned an average recommendation of "Buy" from the eight analysts that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $42.00.

ATRC has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on AtriCure from $30.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Oppenheimer upped their price target 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 raised their price objective 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. UBS Group boosted their target price on shares of AtriCure from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of AtriCure from a "sell" rating to a "hold" rating in a research note on Saturday, September 14th.

Hedge Funds Weigh In On AtriCure

Several institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in AtriCure by 0.9% in the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company's stock valued at $1,569,000 after buying an additional 484 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AtriCure by 2.9% during 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 acquiring an additional 32,676 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in AtriCure in the 3rd quarter valued at $614,000. Wellington Management Group LLP boosted its stake in AtriCure by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company's stock worth $43,291,000 after purchasing an additional 6,045 shares during the period. Finally, Two Sigma Advisers LP increased 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 worth $18,621,000 after purchasing an additional 84,700 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Price Performance

Shares of ATRC traded down $1.12 during trading hours on Friday, hitting $31.67. The stock had a trading volume of 494,255 shares, compared to its average volume of 699,184. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -38.16 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 company's fifty day moving average is $32.93 and its two-hundred day moving average is $27.25. AtriCure has a 52 week low of $18.94 and a 52 week high of $39.04.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.02. The company 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 revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) earnings per share. On average, analysts anticipate that AtriCure will post -0.72 EPS 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.