AtriCure (NASDAQ:ATRC) Announces Quarterly Earnings Results

AtriCure (NASDAQ:ATRC) posted its earnings results on Wednesday. The medical device company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.07, Zacks reports. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%.

AtriCure Trading Up 2.1 %

AtriCure stock traded up $0.87 during midday trading on Wednesday, reaching $42.38. The stock had a trading volume of 336,133 shares, compared to its average volume of 574,980. The stock’s 50-day simple moving average is $35.39 and its 200 day simple moving average is $31.09. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. The stock has a market capitalization of $2.07 billion, a PE ratio of -51.06 and a beta of 1.46.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ATRC shares. Oppenheimer raised their price target on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities reissued a “market outperform” rating and set a $60.00 target price on shares of AtriCure in a research report on Monday. UBS Group increased their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted 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. Finally, JPMorgan Chase & Co. increased their target price on shares of AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.44.

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.