AtriCure (NASDAQ:ATRC) Sets New 1-Year High - Here's What Happened

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $42.25 and last traded at $42.10, with a volume of 489823 shares trading hands. The stock had previously closed at $40.84.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group lifted their price objective on AtriCure from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Canaccord Genuity Group upped 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. Needham & Company LLC lifted their price objective on shares of AtriCure from $40.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Oppenheimer increased their target price on AtriCure from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $40.00 price target on shares of AtriCure in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.38.

AtriCure Trading Down 1.8 %

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 stock has a market capitalization of $1.94 billion, a P/E ratio of -48.04 and a beta of 1.42. The stock has a 50-day moving average price of $34.72 and a two-hundred day moving average price of $30.21.

AtriCure (NASDAQ:ATRC - Get Free Report) 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. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The firm had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. During the same quarter in the previous year, the firm posted ($0.20) EPS. The company's revenue for the quarter was up 17.9% compared to the same quarter last year. On average, research analysts forecast that AtriCure, Inc. will post -0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Champlain Investment Partners LLC boosted 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 worth $78,253,000 after acquiring an additional 115,813 shares in the last quarter. 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 in the last quarter. State Street Corp grew its position in AtriCure by 4.9% during the 3rd quarter. State Street Corp now owns 1,344,856 shares of the medical device company's stock valued at $37,710,000 after purchasing an additional 63,002 shares during the last quarter. Geode Capital Management LLC increased its stake in AtriCure by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company's stock valued at $32,326,000 after purchasing an additional 32,676 shares in the last quarter. Finally, Millennium Management LLC increased its stake in AtriCure by 132.5% during the 2nd quarter. Millennium Management LLC now owns 952,765 shares of the medical device company's stock valued at $21,694,000 after purchasing an additional 543,023 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

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.