JMP Securities Reiterates Market Outperform Rating for AtriCure (NASDAQ:ATRC)

JMP Securities reiterated their market outperform rating on shares of AtriCure (NASDAQ:ATRC - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $60.00 price target on the medical device company's stock.

ATRC has been the subject of a number of other research reports. Piper Sandler increased their price objective on AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Canaccord Genuity Group lowered their price target on shares of AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. cut their price objective on shares of AtriCure from $51.00 to $46.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Oppenheimer lifted their target price on shares of AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Finally, UBS Group cut their price target on AtriCure from $60.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $50.67.

AtriCure Trading Up 2.5 %

NASDAQ:ATRC traded up $0.73 during trading hours on Wednesday, hitting $30.02. The company had a trading volume of 855,143 shares, compared to its average volume of 654,587. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.11. The company has a market capitalization of $1.49 billion, a PE ratio of -31.60 and a beta of 1.65. The stock has a 50-day moving average price of $33.57 and a 200 day moving average price of $34.72.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.11. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. The company had revenue of $123.62 million for the quarter, compared to analysts' expectations of $122.92 million. During the same quarter in the previous year, the company earned ($0.28) earnings per share. AtriCure's quarterly revenue was up 13.5% on a year-over-year basis. On average, equities research analysts predict that AtriCure will post -0.6 EPS for the current fiscal year.

Insider Buying and Selling at AtriCure

In related news, Director Karen Prange sold 6,100 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the sale, the director now directly owns 17,828 shares of the company's stock, valued at $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.50% of the company's stock.

Institutional Trading of AtriCure

A number of institutional investors have recently made changes to their positions in the stock. Hood River Capital Management LLC lifted its position in AtriCure by 3.3% during the fourth quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company's stock valued at $89,349,000 after purchasing an additional 93,131 shares during the period. First Light Asset Management LLC lifted its holdings in shares of AtriCure by 5.6% during the 4th quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company's stock valued at $60,179,000 after buying an additional 103,685 shares during the period. Kennedy Capital Management LLC boosted its stake in shares of AtriCure by 29.8% in the 4th quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company's stock worth $22,999,000 after buying an additional 172,648 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AtriCure by 24.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company's stock worth $21,398,000 after buying an additional 136,015 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of AtriCure by 37.1% in the fourth quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company's stock worth $18,922,000 after acquiring an additional 167,476 shares during the period. Hedge funds and other 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.