AtriCure, Inc. (NASDAQ:ATRC) Receives $43.11 Consensus PT from Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has earned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $43.11.

ATRC has been the subject of several recent research reports. Piper Sandler reduced their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. BTIG Research cut their target price on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC increased their price target on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus decreased their price target on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Oppenheimer raised their target price on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th.

Institutional Investors Weigh In On AtriCure

A number of large investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI bought a new position in shares of AtriCure in the third quarter worth about $28,000. Comerica Bank raised its stake in shares of AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after acquiring an additional 1,043 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of AtriCure by 38.3% during the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after purchasing an additional 1,626 shares during the period. nVerses Capital LLC raised its position in AtriCure by 733.3% during the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its holdings in AtriCure by 32.1% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after buying an additional 2,368 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Price Performance

ATRC stock opened at $35.74 on Wednesday. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.74 billion, a PE ratio of -43.05 and a beta of 1.41. AtriCure has a 1 year low of $18.94 and a 1 year high of $42.99. The stock has a 50-day moving average price of $30.93 and a two-hundred day moving average price of $25.90.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The firm had revenue of $115.91 million during the quarter, compared to the consensus estimate of $112.23 million. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The business’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.20) EPS. Equities analysts forecast that AtriCure will post -0.72 EPS for the current fiscal year.

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.