JPMorgan Chase & Co. Reaffirms “Overweight” Rating for AtriCure (NASDAQ:ATRC)

JPMorgan Chase & Co. reaffirmed their overweight rating on shares of AtriCure (NASDAQ:ATRC) in a report published on Tuesday morning, Marketbeat reports. They currently have a $40.00 price target on the medical device company’s stock.

ATRC has been the topic of several other reports. 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, October 30th. StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. UBS Group raised their target price on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price target on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their price objective on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, AtriCure presently has an average rating of “Moderate Buy” and an average price target of $42.00.

AtriCure Stock Down 0.1 %

ATRC opened at $31.50 on Tuesday. AtriCure has a 1-year low of $18.94 and a 1-year high of $39.04. The business has a 50 day moving average of $33.02 and a 200-day moving average of $27.31. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -38.11 and a beta of 1.40. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share 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 during the quarter, compared to the consensus estimate of $112.23 million. The business’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.20) EPS. As a group, sell-side analysts anticipate that AtriCure will post -0.72 earnings per share for the current year.

Institutional Investors Weigh In On AtriCure

Several large investors have recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new position in AtriCure during the 3rd quarter valued at about $28,000. nVerses Capital LLC increased its holdings 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 worth $140,000 after buying an additional 4,400 shares in the last quarter. Quest Partners LLC raised its stake in shares of AtriCure by 38.3% in the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock valued at $134,000 after acquiring an additional 1,626 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of AtriCure in the third quarter valued at approximately $230,000. Finally, Mount Yale Investment Advisors LLC boosted its holdings in shares of AtriCure by 32.1% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after acquiring an additional 2,368 shares in the last quarter. 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.