AtriCure (NASDAQ:ATRC) Stock Price Up 2.7% - Time to Buy?

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) shares were up 2.7% during mid-day trading on Wednesday . The stock traded as high as $33.68 and last traded at $33.57. Approximately 60,140 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 407,057 shares. The stock had previously closed at $32.70.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Oppenheimer boosted their target price on shares of AtriCure from $32.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Needham & Company LLC increased their price objective on AtriCure from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. StockNews.com upgraded AtriCure from a "sell" rating to a "hold" rating in a report on Saturday, September 14th. UBS Group increased their price target on AtriCure from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $40.00 price objective on shares of AtriCure in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, AtriCure presently has a consensus rating of "Moderate Buy" and an average target price of $42.00.

AtriCure Stock Up 2.9 %

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 firm has a market capitalization of $1.64 billion, a PE ratio of -40.55 and a beta of 1.42. The business's 50-day moving average price is $33.88 and its 200-day moving average price is $28.33.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Hood River Capital Management LLC bought a new position in shares of AtriCure during the 2nd quarter valued at $40,422,000. First Light Asset Management LLC lifted its holdings in 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 purchasing an additional 581,843 shares during the last quarter. Millennium Management LLC boosted its position in AtriCure by 132.5% during the second quarter. Millennium Management LLC now owns 952,765 shares of the medical device company's stock worth $21,694,000 after purchasing an additional 543,023 shares during the period. Assenagon Asset Management S.A. grew its holdings in AtriCure by 151.6% during the third quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company's stock valued at $6,425,000 after purchasing an additional 138,046 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of AtriCure by 31.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company's stock valued at $14,038,000 after purchasing an additional 119,929 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

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.