AtriCure (NASDAQ:ATRC) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of AtriCure (NASDAQ:ATRC – Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the medical device company’s stock.

Several other brokerages also recently commented on ATRC. Stifel Nicolaus decreased their price objective on shares of AtriCure from $55.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. BTIG Research decreased their price objective on shares of AtriCure from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. Needham & Company LLC restated a “buy” rating and set a $58.00 price objective on shares of AtriCure in a report on Wednesday, February 22nd. Finally, Canaccord Genuity Group decreased their price objective on shares of AtriCure from $81.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.17.

AtriCure Stock Performance

Shares of ATRC stock opened at $39.20 on Thursday. The firm has a 50-day moving average of $41.50 and a 200-day moving average of $42.06. The company has a market cap of $1.83 billion, a P/E ratio of -38.81 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.69 and a quick ratio of 2.90. AtriCure has a one year low of $32.51 and a one year high of $68.58.

AtriCure (NASDAQ:ATRC – Get Rating) last announced its earnings results on Tuesday, February 21st. The medical device company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.09. The company had revenue of $88.00 million during the quarter, compared to the consensus estimate of $87.90 million. AtriCure had a negative net margin of 14.06% and a negative return on equity of 10.18%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.30) earnings per share. Equities research analysts forecast that AtriCure will post -1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On AtriCure

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Almanack Investment Partners LLC. bought a new position in AtriCure during the third quarter worth about $43,000. Lazard Asset Management LLC bought a new position in AtriCure during the second quarter worth about $57,000. Point72 Hong Kong Ltd bought a new position in AtriCure during the second quarter worth about $68,000. Point72 Middle East FZE bought a new position in shares of AtriCure in the fourth quarter valued at approximately $83,000. Finally, First Horizon Advisors Inc. boosted its position in shares of AtriCure by 37.5% in the third quarter. First Horizon Advisors Inc. now owns 1,975 shares of the medical device company’s stock valued at $76,000 after acquiring an additional 539 shares during the period. Institutional investors own 95.27% of the company’s stock.

About AtriCure

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AtriCure, Inc engages in the development, manufacture, and sale of surgical ablation of cardiac tissue, and systems for the exclusion of the left atrial appendage. Its products include radio frequency (RF) ablation pacing and sensing, cryo, left atrial appendage management, soft tissue dissection, estech surgical instrumentation, and cart configuration.