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

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

Analyst Ratings Changes

Several equities research analysts have recently commented on ATRC shares. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Needham & Company LLC lifted their price target on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group lifted their price target on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $40.00 price target on shares of AtriCure in a research note on Tuesday, December 17th. Finally, Canaccord Genuity Group lifted their price target on AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

AtriCure Trading Down 6.7 %

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 company has a 50 day simple moving average of $33.86 and a two-hundred day simple moving average of $28.40. The company has a market cap of $1.53 billion, a PE ratio of -37.84 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) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.02. The company had revenue of $115.91 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.20) EPS. Sell-side analysts forecast that AtriCure, Inc. will post -0.72 EPS for the current year.

Institutional Investors Weigh In On AtriCure

Institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in AtriCure by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock worth $1,569,000 after purchasing an additional 484 shares during the last quarter. Geode Capital Management LLC lifted its holdings in AtriCure by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after purchasing an additional 32,676 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in AtriCure in the 3rd quarter worth approximately $614,000. Wellington Management Group LLP lifted its holdings in AtriCure by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock worth $43,291,000 after purchasing an additional 6,045 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in AtriCure by 14.6% in the 3rd quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock worth $18,621,000 after buying an additional 84,700 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.