AtriCure (NASDAQ:ATRC) Reaches New 52-Week High – What’s Next?

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

Analyst Ratings Changes

Several analysts recently issued reports on ATRC shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $40.00 price objective on shares of AtriCure in a report on Tuesday, December 17th. Oppenheimer increased their price target on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. UBS Group boosted their target price on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of AtriCure in a report on Monday, January 13th. Finally, Canaccord Genuity Group upped their target price on AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

AtriCure Trading Up 2.2 %

The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -46.35 and a beta of 1.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The business’s 50-day moving average price is $33.83 and its 200 day moving average price is $28.99.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $112.23 million. During the same period in the prior year, the firm posted ($0.20) EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts forecast that AtriCure, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of AtriCure

Several large investors have recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI acquired a new stake in AtriCure during the 3rd quarter worth about $28,000. nVerses Capital LLC boosted its stake 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 buying an additional 4,400 shares during the period. Captrust Financial Advisors acquired a new position in AtriCure in the 3rd quarter worth about $230,000. Mount Yale Investment Advisors LLC increased its holdings in 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 worth $222,000 after buying an additional 2,368 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of AtriCure during the 3rd quarter valued at $276,000. 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.