AtriCure, Inc. (NASDAQ:ATRC) Receives $48.43 Average PT from Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $48.4286.

ATRC has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research note on Wednesday, February 11th. Zacks Research lowered AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Citigroup reiterated an “outperform” rating on shares of AtriCure in a report on Wednesday, February 18th. Oppenheimer lowered AtriCure from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Finally, UBS Group decreased their price target on AtriCure from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATRC. AQR Capital Management LLC grew its holdings in AtriCure by 1.0% during the 1st quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock valued at $2,700,000 after purchasing an additional 837 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in AtriCure by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company’s stock valued at $908,000 after buying an additional 1,230 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in AtriCure by 1.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company’s stock valued at $27,830,000 after buying an additional 8,956 shares during the last quarter. Jane Street Group LLC grew its stake in shares of AtriCure by 658.3% during the first quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company’s stock valued at $3,254,000 after acquiring an additional 87,553 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of AtriCure during the first quarter valued at about $158,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Price Performance

AtriCure stock opened at $29.53 on Tuesday. The firm has a fifty day moving average of $35.44 and a 200-day moving average of $36.18. AtriCure has a 52-week low of $28.29 and a 52-week high of $43.18. The company has a quick ratio of 2.99, a current ratio of 3.96 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.47 billion, a P/E ratio of -123.04 and a beta of 1.42.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.10. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.15%. The business had revenue of $140.50 million for the quarter, compared to analyst estimates of $140.50 million. During the same quarter in the previous year, the business posted ($0.33) EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, analysts predict that AtriCure will post -0.6 EPS for the current year.

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.