AtriCure (NASDAQ:ATRC) Reaches New 1-Year High – Here’s Why

AtriCure, Inc. (NASDAQ:ATRC)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $39.12 and last traded at $38.47, with a volume of 903175 shares. The stock had previously closed at $37.64.

Analyst Ratings Changes

ATRC has been the topic of several research reports. JPMorgan Chase & Co. reissued an “overweight” rating and set a $40.00 price objective on shares of AtriCure in a report on Tuesday, December 17th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of AtriCure in a research report on Monday. Oppenheimer raised their price objective on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group boosted their price target on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price objective on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.00.

AtriCure Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The company’s 50 day moving average price is $33.81 and its two-hundred day moving average price is $28.84. The stock has a market capitalization of $1.88 billion, a PE ratio of -46.35 and a beta of 1.42.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The firm had revenue of $115.91 million for the quarter, compared to the consensus estimate of $112.23 million. During the same quarter last year, the business posted ($0.20) earnings per share. The firm’s revenue was up 17.9% compared to the same quarter last year. As a group, analysts expect that AtriCure, Inc. will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On AtriCure

A number of institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. increased its holdings in shares of AtriCure by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock worth $1,569,000 after buying an additional 484 shares during the last quarter. Geode Capital Management LLC increased its stake in AtriCure by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after acquiring an additional 32,676 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in AtriCure in the third quarter valued at $614,000. Wellington Management Group LLP lifted its stake in shares of AtriCure by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock valued at $43,291,000 after purchasing an additional 6,045 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of AtriCure by 14.6% during the 3rd quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock worth $18,621,000 after purchasing an additional 84,700 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

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.