AtriCure (NASDAQ:ATRC) Price Target Raised to $40.00

AtriCure (NASDAQ:ATRC) had its price target increased by UBS Group from $35.00 to $40.00 in a report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the medical device company’s stock.

A number of other brokerages have also issued reports on ATRC. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. JPMorgan Chase & Co. cut their price target on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus lowered their target price on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC raised their price target on shares of AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler dropped their target price on AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, AtriCure presently has an average rating of “Moderate Buy” and a consensus price target of $43.11.

AtriCure Stock Up 1.0 %

ATRC opened at $33.51 on Wednesday. The stock has a market capitalization of $1.63 billion, a P/E ratio of -40.37 and a beta of 1.44. AtriCure has a one year low of $18.94 and a one year high of $43.00. The business’s 50-day simple moving average is $28.02 and its 200-day simple moving average is $24.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data 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 analyst estimates of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.14%. AtriCure’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) earnings per share. Analysts anticipate that AtriCure will post -0.77 EPS for the current year.

Insider Buying and Selling

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the firm’s 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 transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of AtriCure

A number of hedge funds have recently made changes to their positions in ATRC. Arizona State Retirement System increased its stake in AtriCure by 4.0% during the 2nd quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock worth $308,000 after buying an additional 517 shares during the period. ProShare Advisors LLC increased its position in shares of AtriCure by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock worth $255,000 after acquiring an additional 659 shares during the last quarter. Bank of Montreal Can increased its position in shares of AtriCure by 4.0% during the second quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company’s stock worth $488,000 after acquiring an additional 831 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of AtriCure in the third quarter worth about $28,000. Finally, Comerica Bank boosted its holdings in AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 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.