AtriCure (NASDAQ:ATRC) Hits New 52-Week High – Time to Buy?

Shares of AtriCure, Inc. (NASDAQ:ATRC) reached a new 52-week high on Wednesday . The company traded as high as $42.25 and last traded at $42.10, with a volume of 489823 shares. The stock had previously closed at $40.84.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ATRC. Oppenheimer lifted their price target on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their target price on AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC increased their price target on AtriCure from $40.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. restated an “overweight” rating and set a $40.00 price objective on shares of AtriCure in a research note on Tuesday, December 17th. Finally, UBS Group increased their target price on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” 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. According to data from MarketBeat.com, AtriCure currently has a consensus rating of “Moderate Buy” and an average target price of $43.38.

AtriCure Stock Performance

The company’s 50-day moving average price is $34.54 and its two-hundred day moving average price is $29.99. The company has a market cap of $1.98 billion, a P/E ratio of -48.92 and a beta of 1.42. 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 earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The firm had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.20) earnings per share. As a group, equities analysts forecast that AtriCure, Inc. will post -0.75 earnings per share for the current year.

Hedge Funds Weigh In On AtriCure

A number of hedge funds have recently modified their holdings of ATRC. Arcadia Investment Management Corp MI acquired a new position in shares of AtriCure in the 3rd quarter valued at $28,000. Heck Capital Advisors LLC acquired a new position in shares of AtriCure in the fourth quarter worth about $60,000. KBC Group NV increased its position in shares of AtriCure by 65.3% in the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock worth $72,000 after acquiring an additional 932 shares in the last quarter. R Squared Ltd acquired a new stake in shares of AtriCure during the fourth quarter valued at approximately $89,000. Finally, nVerses Capital LLC lifted its position in shares of AtriCure by 733.3% in the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after acquiring an additional 4,400 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.