AtriCure (NASDAQ:ATRC) Hits New 52-Week High – Should You Buy?

AtriCure, Inc. (NASDAQ:ATRC)’s stock price hit a new 52-week high on Friday . The company traded as high as $39.12 and last traded at $38.47, with a volume of 903175 shares traded. The stock had previously closed at $37.64.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ATRC. Canaccord Genuity Group increased their target price on AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of AtriCure in a research report on Monday. Oppenheimer raised their price target on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $40.00 target price on shares of AtriCure in a report on Tuesday, December 17th. Finally, UBS Group upped their price objective on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.00.

AtriCure Stock Performance

The firm has a market capitalization of $1.88 billion, a P/E ratio of -46.35 and a beta of 1.42. 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 business’s 50 day simple moving average is $33.81 and its two-hundred day simple moving average is $28.84.

AtriCure (NASDAQ:ATRC) last posted 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. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The business had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. During the same quarter last year, the company earned ($0.20) EPS. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. Sell-side analysts anticipate that AtriCure, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Arcadia Investment Management Corp MI purchased a new position in AtriCure in the 3rd quarter worth approximately $28,000. nVerses Capital LLC increased its position in shares of AtriCure by 733.3% during the 3rd 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 last quarter. Mount Yale Investment Advisors LLC raised 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 acquiring an additional 2,368 shares during the period. Captrust Financial Advisors bought a new stake in AtriCure in the third quarter worth about $230,000. Finally, QRG Capital Management Inc. bought a new position in AtriCure in the 3rd quarter valued at $276,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.