AtriCure's (ATRC) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of AtriCure (NASDAQ:ATRC - Free Report) in a research note published on Monday,Benzinga reports. The brokerage currently has a $40.00 price target on the medical device company's stock.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $40.00 price target on shares of AtriCure in a research report on Tuesday, December 17th. 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. UBS Group increased their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group lifted their price objective on shares of AtriCure from $53.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $42.00.

AtriCure Stock Up 9.5 %

NASDAQ ATRC traded up $2.98 during trading on Monday, hitting $34.39. The stock had a trading volume of 1,003,298 shares, compared to its average volume of 661,614. The company has a market capitalization of $1.68 billion, a PE ratio of -41.43 and a beta of 1.42. AtriCure has a 12 month low of $18.94 and a 12 month high of $39.04. The company's 50-day moving average price is $33.83 and its two-hundred day moving average price is $28.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its 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 net margin of 8.70% and a negative return on equity of 8.12%. The business had revenue of $115.91 million during the quarter, compared to analysts' expectations of $112.23 million. During the same quarter in the prior year, the company posted ($0.20) earnings per share. The firm's revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts forecast that AtriCure will post -0.72 EPS for the current year.

Institutional Trading of AtriCure

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position 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 acquiring an additional 484 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of AtriCure by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company's stock worth $32,326,000 after purchasing an additional 32,676 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in AtriCure during the 3rd quarter worth approximately $614,000. 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 valued at $43,291,000 after purchasing an additional 6,045 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in AtriCure by 14.6% in the 3rd quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company's stock valued at $18,621,000 after buying an additional 84,700 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

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.