AtriCure (NASDAQ:ATRC) Given Overweight Rating at JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC - Get Free Report)'s stock had its "overweight" rating reissued by analysts at JPMorgan Chase & Co. in a research note issued on Tuesday, Marketbeat reports. They presently have a $40.00 price objective on the medical device company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 26.98% from the stock's previous close.

A number of other analysts have also issued reports on ATRC. Canaccord Genuity Group raised their target price on shares of AtriCure from $53.00 to $61.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Needham & Company LLC upped their target price on AtriCure from $34.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. UBS Group raised their price target on AtriCure from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of AtriCure from a "sell" rating to a "hold" rating in a report on Saturday, September 14th. Finally, Oppenheimer boosted their target price on shares of AtriCure from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

AtriCure Price Performance

ATRC traded down $0.04 during midday trading on Tuesday, reaching $31.50. 442,429 shares of the company's stock were exchanged, compared to its average volume of 696,741. AtriCure has a 1-year low of $18.94 and a 1-year high of $39.04. The stock has a market capitalization of $1.54 billion, a PE ratio of -38.11 and a beta of 1.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The business's 50-day moving average price is $33.02 and its 200 day moving average price is $27.31.

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, beating analysts' consensus estimates of ($0.19) by $0.02. The firm had revenue of $115.91 million for the quarter, compared to analysts' expectations of $112.23 million. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. AtriCure's quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.20) EPS. As a group, equities analysts anticipate that AtriCure will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On AtriCure

A number of large investors have recently modified their holdings of the stock. Panagora Asset Management Inc. lifted its position in shares of AtriCure by 8.2% during the second quarter. Panagora Asset Management Inc. now owns 309,547 shares of the medical device company's stock worth $7,048,000 after purchasing an additional 23,436 shares in the last quarter. HighMark Wealth Management LLC boosted its position in AtriCure by 664.1% in the 2nd quarter. HighMark Wealth Management LLC now owns 69,725 shares of the medical device company's stock valued at $1,588,000 after buying an additional 60,600 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of AtriCure by 0.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 380,720 shares of the medical device company's stock valued at $8,669,000 after acquiring an additional 2,898 shares in the last quarter. Rhumbline Advisers increased its position in shares of AtriCure by 3.7% during the second quarter. Rhumbline Advisers now owns 72,936 shares of the medical device company's stock worth $1,661,000 after acquiring an additional 2,577 shares during the last quarter. Finally, Fiera Capital Corp lifted its stake in shares of AtriCure by 1.1% in the second quarter. Fiera Capital Corp now owns 918,207 shares of the medical device company's stock worth $20,908,000 after acquiring an additional 10,432 shares in the last quarter. Institutional investors and hedge funds 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.