AtriCure (NASDAQ:ATRC) Trading Up 2.7% – Time to Buy?

AtriCure, Inc. (NASDAQ:ATRC) traded up 2.7% during mid-day trading on Wednesday . The stock traded as high as $33.68 and last traded at $33.57. 60,140 shares changed hands during trading, a decline of 85% from the average session volume of 407,057 shares. The stock had previously closed at $32.70.

Analysts Set New Price Targets

ATRC has been the topic of a number of analyst reports. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Oppenheimer raised their target price on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group upped their price target on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC raised their price objective on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, AtriCure currently has an average rating of “Moderate Buy” and an average price target of $42.00.

AtriCure Stock Performance

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’s 50 day moving average price is $33.88 and its two-hundred day moving average price is $28.33. The firm has a market capitalization of $1.66 billion, a PE ratio of -40.98 and a beta of 1.42.

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

Institutional Investors Weigh In On AtriCure

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. Arcadia Investment Management Corp MI acquired a new stake in AtriCure during the 3rd quarter worth approximately $28,000. nVerses Capital LLC raised its position in AtriCure by 733.3% in the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after purchasing an additional 4,400 shares during the period. Quest Partners LLC lifted its stake 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 in the last quarter. Captrust Financial Advisors purchased a new stake in shares of AtriCure in the third quarter worth about $230,000. Finally, Mount Yale Investment Advisors LLC grew its stake in shares of AtriCure by 32.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock valued at $222,000 after buying an additional 2,368 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

About AtriCure

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.