UBS Group Boosts AtriCure (NASDAQ:ATRC) Price Target to $40.00

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

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

AtriCure Stock Performance

Shares of AtriCure stock opened at $33.51 on Wednesday. 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 has a 1 year low of $18.94 and a 1 year high of $43.00. The firm’s 50-day simple moving average is $28.02 and its 200-day simple moving average is $24.51. The firm has a market cap of $1.63 billion, a PE ratio of -40.37 and a beta of 1.44.

AtriCure (NASDAQ:ATRC) last released its earnings results 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. The company had revenue of $115.91 million for the quarter, compared to the consensus estimate of $112.23 million. AtriCure had a negative return on equity of 8.14% and a negative net margin of 8.70%. AtriCure’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. Equities analysts forecast that AtriCure will post -0.77 earnings per share for the current fiscal year.

Insider Activity at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the completion of the transaction, the director now owns 8,970 shares in the company, valued at approximately $215,907.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.20% of the stock is owned by insiders.

Institutional Trading of AtriCure

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in AtriCure by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock valued at $170,100,000 after purchasing an additional 76,146 shares in the last quarter. Norden Group LLC bought a new position in AtriCure during the first quarter valued at about $440,000. Diversify Advisory Services LLC acquired a new position in AtriCure during the first quarter worth about $258,000. GSA Capital Partners LLP raised its position in AtriCure by 65.7% in the first quarter. GSA Capital Partners LLP now owns 35,813 shares of the medical device company’s stock worth $1,089,000 after acquiring an additional 14,194 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in AtriCure by 17.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,462 shares of the medical device company’s stock valued at $318,000 after acquiring an additional 1,562 shares during the last quarter. 99.11% of the stock is currently owned by 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.