AtriCure (NASDAQ:ATRC) PT Raised to $40.00 at UBS Group

AtriCure (NASDAQ:ATRC) had its target price lifted by research analysts at UBS Group from $35.00 to $40.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. UBS Group’s price target would indicate a potential upside of 14.03% from the stock’s previous close.

Several other research analysts have also recently weighed in on ATRC. JPMorgan Chase & Co. decreased their target price on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Piper Sandler decreased their target price on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC boosted their price target on AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. BTIG Research lowered their target price on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their price objective on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.11.

AtriCure Stock Performance

NASDAQ:ATRC traded up $5.65 during mid-day trading on Wednesday, hitting $35.08. The stock had a trading volume of 457,650 shares, compared to its average volume of 720,920. The company has a current ratio of 4.13, a quick ratio of 2.93 and a debt-to-equity ratio of 0.16. The company has a 50 day simple moving average of $27.46 and a 200-day simple moving average of $24.30. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -44.95 and a beta of 1.44. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.00.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The company had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.20) EPS. On average, research analysts expect that AtriCure will post -0.77 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the sale, the director now directly owns 8,970 shares in the company, valued at $215,907.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. QRG Capital Management Inc. bought a new position in AtriCure during the 3rd quarter worth $276,000. Emerald Advisers LLC boosted its holdings in AtriCure by 10.9% in the third quarter. Emerald Advisers LLC now owns 389,836 shares of the medical device company’s stock worth $10,931,000 after acquiring an additional 38,421 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of AtriCure in the 3rd quarter worth about $28,000. Assenagon Asset Management S.A. raised its position in AtriCure by 151.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock valued at $6,425,000 after buying an additional 138,046 shares during the last quarter. Finally, nVerses Capital LLC lifted its position in shares of AtriCure by 733.3% during 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 in the last quarter. Institutional investors own 99.11% of the company’s stock.

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.