AtriCure, Inc. (NASDAQ:ATRC) Receives $43.11 Average Price Target from Analysts

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) has been assigned an average recommendation of "Buy" from the nine research firms that are currently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have covered the stock in the last year is $43.11.

ATRC has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on AtriCure from $49.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. BTIG Research cut their target price on shares of AtriCure from $58.00 to $53.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on shares of AtriCure from $30.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. UBS Group raised their target price on AtriCure from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, 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 note on Wednesday, October 30th.

Institutional Investors Weigh In On AtriCure

Several institutional investors have recently made changes to their positions in the company. Arizona State Retirement System lifted its stake in AtriCure by 4.0% in the second quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company's stock valued at $308,000 after acquiring an additional 517 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of AtriCure by 8.5% in the first quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company's stock worth $255,000 after buying an additional 659 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of AtriCure by 4.0% during the 2nd quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company's stock worth $488,000 after buying an additional 831 shares during the period. Arcadia Investment Management Corp MI bought a new position in AtriCure in the 3rd quarter worth $28,000. Finally, Comerica Bank boosted its holdings in AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company's stock valued at $77,000 after acquiring an additional 1,043 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Trading Down 0.9 %

AtriCure stock traded down $0.31 during trading on Wednesday, reaching $36.03. The company had a trading volume of 353,669 shares, compared to its average volume of 722,200. 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 has a market capitalization of $1.76 billion, a price-to-earnings ratio of -43.78 and a beta of 1.41. The stock's 50 day moving average price is $30.43 and its two-hundred day moving average price is $25.63. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.00.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, topping 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 firm had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. During the same period in the previous year, the company posted ($0.20) EPS. AtriCure's revenue for the quarter was up 17.9% on a year-over-year basis. As a group, equities analysts expect that AtriCure will post -0.72 earnings per share for the current fiscal 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.