AtriCure’s (ATRC) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of AtriCure (NASDAQ:ATRC) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $40.00 target price on the medical device company’s stock.

Other equities research analysts also recently issued reports about the company. UBS Group raised their target price on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer lifted their price objective on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their target price on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $40.00 price target on shares of AtriCure in a research note on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.00.

AtriCure Trading Up 6.6 %

Shares of ATRC stock opened at $36.97 on Monday. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $39.04. The firm’s 50 day moving average price is $33.81 and its two-hundred day moving average price is $28.78. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -44.54 and a beta of 1.42. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The firm had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. During the same period in the prior year, the company earned ($0.20) EPS. The firm’s revenue was up 17.9% on a year-over-year basis. On average, analysts anticipate that AtriCure will post -0.72 EPS for the current year.

Institutional Trading of AtriCure

Several institutional investors have recently added to or reduced their stakes in ATRC. Rhumbline Advisers increased its position in shares of AtriCure by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 72,936 shares of the medical device company’s stock worth $1,661,000 after purchasing an additional 2,577 shares during the last quarter. Arizona State Retirement System grew its stake in AtriCure by 4.0% in the second quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock worth $308,000 after purchasing an additional 517 shares in the last quarter. Quest Partners LLC increased its holdings in AtriCure by 38.3% in the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock valued at $134,000 after buying an additional 1,626 shares during the last quarter. Renaissance Technologies LLC raised its stake in AtriCure by 12.8% during the second quarter. Renaissance Technologies LLC now owns 171,700 shares of the medical device company’s stock valued at $3,910,000 after buying an additional 19,500 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in AtriCure by 73.5% during the 2nd quarter. Hsbc Holdings PLC now owns 102,610 shares of the medical device company’s stock worth $2,380,000 after buying an additional 43,466 shares during the last quarter. 99.11% of the stock is 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.