AtriCure (NASDAQ:ATRC) Price Target Raised to $53.00

AtriCure (NASDAQ:ATRC) had its target price increased by Canaccord Genuity Group from $49.00 to $53.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the medical device company’s stock.

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

AtriCure Stock Up 1.0 %

Shares of AtriCure stock opened at $33.51 on Wednesday. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.00. The company has a market capitalization of $1.63 billion, a P/E ratio of -40.37 and a beta of 1.44. The business’s fifty day moving average price is $28.02 and its two-hundred day moving average price is $24.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.93.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.14% and a negative net margin of 8.70%. The company had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same period last year, the firm earned ($0.20) EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, research analysts forecast that AtriCure will post -0.77 EPS for the current year.

Insider Buying and Selling

In other news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the completion of the sale, the director now owns 8,970 shares of the company’s stock, valued at $215,907.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.20% of the company’s stock.

Institutional Trading of AtriCure

Several hedge funds and other institutional investors have recently modified their holdings of ATRC. Hood River Capital Management LLC acquired a new stake in shares of AtriCure in the second quarter worth $40,422,000. First Light Asset Management LLC boosted its position in shares of AtriCure by 42.1% in the second quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock worth $44,736,000 after buying an additional 581,843 shares during the period. Champlain Investment Partners LLC boosted its position in AtriCure by 27.3% during the first quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock valued at $81,556,000 after purchasing an additional 575,605 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 valued at $21,694,000 after purchasing an additional 543,023 shares during the last quarter. Finally, Natixis acquired a new stake in AtriCure during the first quarter valued at $9,126,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

About AtriCure

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.