AtriCure (NASDAQ:ATRC) Sets New 12-Month High – Here’s What Happened

Shares of AtriCure, Inc. (NASDAQ:ATRC) reached 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 trading hands. The stock had previously closed at $37.64.

Analysts Set New Price Targets

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

AtriCure Stock Performance

The company has a market cap of $1.88 billion, a P/E ratio of -46.35 and a beta of 1.42. The business has a fifty day moving average of $33.83 and a 200 day moving average of $28.99. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. During the same quarter in the previous year, the firm earned ($0.20) EPS. AtriCure’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities analysts predict that AtriCure, Inc. will post -0.73 EPS for the current year.

Hedge Funds Weigh In On AtriCure

Hedge funds have recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new stake in AtriCure in the third quarter worth $28,000. nVerses Capital LLC raised its stake in AtriCure by 733.3% in the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after buying an additional 4,400 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its stake in shares of 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 purchasing an additional 2,368 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of AtriCure during the third quarter valued at about $230,000. Finally, QRG Capital Management Inc. acquired a new stake in AtriCure in the third quarter valued at approximately $276,000. 99.11% of the stock is currently owned by institutional investors.

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.