AtriCure (NASDAQ:ATRC) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

AtriCure (NASDAQ:ATRC - Get Free Report) had its target price raised by research analysts at Canaccord Genuity Group from $49.00 to $53.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the medical device company's stock. Canaccord Genuity Group's price objective would indicate a potential upside of 48.88% from the company's current price.

A number of other equities analysts have also issued reports on ATRC. Needham & Company LLC raised their target price on AtriCure from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday. StockNews.com upgraded AtriCure from a "sell" rating to a "hold" rating in a research note on Saturday, September 14th. JPMorgan Chase & Co. lifted their price objective on AtriCure from $30.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday. Oppenheimer lifted their price objective on AtriCure from $32.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Stifel Nicolaus cut their price target on AtriCure from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, AtriCure has an average rating of "Moderate Buy" and a consensus target price of $43.11.

AtriCure Stock Up 21.0 %

Shares of AtriCure stock traded up $6.17 during trading on Wednesday, reaching $35.60. The company's stock had a trading volume of 1,737,958 shares, compared to its average volume of 727,017. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -44.50 and a beta of 1.44. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. The company has a 50-day simple moving average of $27.46 and a two-hundred day simple moving average of $24.30. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.00.

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, topping analysts' consensus estimates of ($0.19) by $0.02. The company had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The firm's quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) EPS. As a group, equities analysts forecast that AtriCure will post -0.77 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the sale, the director now directly owns 8,970 shares in the company, valued at approximately $215,907.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AtriCure

Institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new stake in AtriCure in the 3rd quarter worth about $28,000. Comerica Bank boosted its holdings in shares of AtriCure by 70.5% during the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company's stock worth $77,000 after purchasing an additional 1,043 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of AtriCure by 38.3% during the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company's stock worth $134,000 after purchasing an additional 1,626 shares during the last quarter. nVerses Capital LLC boosted its holdings in shares of AtriCure by 733.3% during the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company's stock worth $140,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its holdings in shares of AtriCure by 32.1% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company's stock worth $222,000 after purchasing an additional 2,368 shares during the last quarter. 99.11% of the stock is currently 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.

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