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

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

Several other research analysts also recently commented on ATRC. Stifel Nicolaus cut their target price on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Piper Sandler cut their price objective on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company 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. Oppenheimer increased their target price on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.11.

AtriCure Stock Up 1.0 %

ATRC stock opened at $33.51 on Wednesday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -40.37 and a beta of 1.44. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $43.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13. The stock has a fifty day moving average of $28.02 and a 200-day moving average of $24.51.

AtriCure (NASDAQ:ATRC) last announced its quarterly 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 company had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.14%. AtriCure’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.20) EPS. As a group, equities research analysts predict that AtriCure will post -0.77 earnings per share for the current year.

Insider Activity

In related news, Director Maggie Yuen sold 3,500 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value of $84,245.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of AtriCure

Several hedge funds and other institutional investors have recently bought and sold shares of ATRC. QRG Capital Management Inc. purchased a new position in AtriCure in the 3rd quarter worth approximately $276,000. Emerald Advisers LLC boosted its position in AtriCure by 10.9% during the 3rd quarter. Emerald Advisers LLC now owns 389,836 shares of the medical device company’s stock valued at $10,931,000 after acquiring an additional 38,421 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in AtriCure in the third quarter worth $28,000. Assenagon Asset Management S.A. increased its stake in shares of AtriCure by 151.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock worth $6,425,000 after acquiring an additional 138,046 shares in the last quarter. Finally, nVerses Capital LLC lifted its holdings in shares of AtriCure by 733.3% during the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after purchasing an additional 4,400 shares during the last quarter. Hedge funds and other institutional investors 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.