AtriCure (NASDAQ:ATRC) Price Target Raised to $36.00

by · The Markets Daily

AtriCure (NASDAQ:ATRC – Free Report) had its price target boosted by Oppenheimer from $32.00 to $36.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the medical device company’s stock.

Other equities research analysts have also issued research reports about the company. Piper Sandler dropped their target price on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Needham & Company LLC raised their target price on shares of AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Stifel Nicolaus cut 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. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, AtriCure has a consensus rating of “Moderate Buy” and an average price target of $43.11.

Read Our Latest Research Report on AtriCure

AtriCure Trading Up 1.0 %

NASDAQ:ATRC opened at $33.51 on Wednesday. The company has a market capitalization of $1.63 billion, a P/E ratio of -40.37 and a beta of 1.44. The company has a current ratio of 4.13, a quick ratio of 2.93 and a debt-to-equity ratio of 0.16. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.00. The firm has a fifty day simple moving average of $28.02 and a 200-day simple moving average of $24.51.

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 8.14% and a negative net margin of 8.70%. 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. On average, equities research analysts anticipate that AtriCure will post -0.77 earnings per share for the current year.

Insider Buying and Selling at AtriCure

In other news, Director Maggie Yuen sold 3,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the sale, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AtriCure

Large investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board increased its position in shares of AtriCure by 187.7% in the second quarter. Canada Pension Plan Investment Board now owns 110,669 shares of the medical device company’s stock valued at $2,520,000 after buying an additional 72,200 shares in the last quarter. Kennedy Capital Management LLC increased its holdings in AtriCure by 115.5% in the 1st quarter. Kennedy Capital Management LLC now owns 227,193 shares of the medical device company’s stock worth $6,911,000 after acquiring an additional 121,752 shares in the last quarter. Renaissance Technologies LLC raised its position in AtriCure by 12.8% during the second quarter. Renaissance Technologies LLC now owns 171,700 shares of the medical device company’s stock worth $3,910,000 after acquiring an additional 19,500 shares during the period. SG Americas Securities LLC acquired a new position in AtriCure during the third quarter worth $488,000. Finally, Orion Portfolio Solutions LLC grew its position in shares of AtriCure by 26.7% in the first quarter. Orion Portfolio Solutions LLC now owns 68,121 shares of the medical device company’s stock valued at $2,072,000 after purchasing an additional 14,360 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Company Profile

(Get Free Report)

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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