AtriCure, Inc. (NASDAQ:ATRC) Receives Consensus Recommendation of "Buy" from Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) have earned an average rating of "Buy" from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have covered the stock in the last year is $42.00.

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group raised their price target on AtriCure from $53.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Oppenheimer boosted their target price on AtriCure from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $40.00 price target on shares of AtriCure in a report on Tuesday, December 17th. StockNews.com raised shares of AtriCure from a "sell" rating to a "hold" rating in a research note on Saturday, September 14th. Finally, Needham & Company LLC raised 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.

Institutional Investors Weigh In On AtriCure

Institutional investors and hedge funds have recently modified their holdings of the company. Champlain Investment Partners LLC grew its holdings in AtriCure by 4.3% in the third quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company's stock valued at $78,253,000 after purchasing an additional 115,813 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of AtriCure by 42.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company's stock worth $44,736,000 after buying an additional 581,843 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in AtriCure in the 2nd quarter valued at about $40,422,000. Wellington Management Group LLP increased its holdings in AtriCure by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company's stock valued at $43,291,000 after acquiring an additional 6,045 shares in the last quarter. Finally, State Street Corp raised its position in AtriCure by 4.9% during the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company's stock worth $37,710,000 after acquiring an additional 63,002 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Stock Performance

Shares of NASDAQ ATRC traded up $0.96 during trading hours on Thursday, reaching $33.66. The stock had a trading volume of 527,723 shares, compared to its average volume of 508,305. The firm has a 50-day moving average of $33.85 and a 200-day moving average of $28.37. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -40.55 and a beta of 1.42. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. AtriCure has a fifty-two week low of $18.94 and a fifty-two 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, beating the consensus estimate of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The business had revenue of $115.91 million during the quarter, compared to the consensus estimate of $112.23 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The company's revenue was up 17.9% compared to the same quarter last year. Equities research analysts predict 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.