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AtriCure (NASDAQ:ATRC) Shares Gap Up - Should You Buy?

AtriCure logo with Medical background

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $31.41, but opened at $33.07. AtriCure shares last traded at $33.68, with a volume of 115,706 shares.

Analyst Ratings Changes

Several research analysts have recently commented on ATRC shares. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $40.00 target price on shares of AtriCure in a research report on Tuesday, December 17th. Needham & Company LLC reiterated a "buy" rating and set a $40.00 price target on shares of AtriCure in a research report on Monday. Canaccord Genuity Group boosted their price objective on AtriCure from $53.00 to $61.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Oppenheimer boosted 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, UBS Group lifted their price target on AtriCure from $35.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $42.00.

Read Our Latest Stock Report on ATRC

AtriCure Trading Up 9.5 %

The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average price of $33.82 and a 200 day moving average price of $28.56. The company has a market capitalization of $1.68 billion, a P/E ratio of -41.43 and a beta of 1.42.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.02. The firm had revenue of $115.91 million for the quarter, compared to the consensus estimate of $112.23 million. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The business's revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.20) earnings per share. On average, analysts expect that AtriCure, Inc. will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AtriCure

Several large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its stake in AtriCure by 0.9% during the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company's stock worth $1,569,000 after buying an additional 484 shares in the last quarter. Arizona State Retirement System raised its holdings in AtriCure by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company's stock valued at $308,000 after buying an additional 517 shares during the last quarter. Bank of Montreal Can raised its holdings in AtriCure by 4.0% in the 2nd quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company's stock valued at $488,000 after buying an additional 831 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in AtriCure during the 3rd quarter valued at approximately $28,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of AtriCure by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,919 shares of the medical device company's stock worth $567,000 after buying an additional 1,429 shares during the period. Institutional investors own 99.11% of the company's stock.

About AtriCure

(Get Free Report)

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.

Further Reading

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