AtriCure (NASDAQ:ATRC) Stock Price Up 2.7% – Here’s What Happened

by · The Cerbat Gem

AtriCure, Inc. (NASDAQ:ATRC – Get Free Report) shot up 2.7% during trading on Wednesday . The stock traded as high as $33.68 and last traded at $33.57. 60,140 shares were traded during mid-day trading, a decline of 85% from the average session volume of 407,057 shares. The stock had previously closed at $32.70.

Wall Street Analyst Weigh In

ATRC has been the topic of a number of research reports. JPMorgan Chase & Co. restated an “overweight” rating and set a $40.00 price objective on shares of AtriCure in a research report on Tuesday, December 17th. StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Needham & Company LLC boosted their price objective on AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Oppenheimer boosted their price objective on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Check Out Our Latest Analysis on ATRC

AtriCure Stock Down 6.7 %

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 firm has a market cap of $1.53 billion, a price-to-earnings ratio of -37.84 and a beta of 1.42. The firm has a 50 day moving average price of $33.86 and a 200-day moving average price of $28.40.

AtriCure (NASDAQ:ATRC – Get Free Report) 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. 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 for the quarter, compared to analyst estimates of $112.23 million. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, equities analysts predict that AtriCure, Inc. will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On AtriCure

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in shares of AtriCure by 0.9% in the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock worth $1,569,000 after acquiring an additional 484 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of AtriCure by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after acquiring an additional 32,676 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of AtriCure in the third quarter worth about $614,000. Wellington Management Group LLP increased its holdings in shares of AtriCure by 0.4% in the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock worth $43,291,000 after acquiring an additional 6,045 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of AtriCure by 14.6% in the third quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock worth $18,621,000 after acquiring an additional 84,700 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

About AtriCure

(Get Free Report)

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.

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