AtriCure Inc. (NASDAQ:ATRC) traded up 6.8% on Friday after Needham & Company LLC raised their price target on the stock from $36.00 to $39.00. Needham & Company LLC currently has a buy rating on the stock. AtriCure traded as high as $33.45 and last traded at $33.02. 2,088,463 shares were traded during trading, an increase of 931% from the average session volume of 202,505 shares. The stock had previously closed at $30.93.

ATRC has been the subject of several other reports. Zacks Investment Research cut shares of AtriCure from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Stifel Nicolaus raised their price objective on shares of AtriCure from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Piper Jaffray Companies lifted their price target on shares of AtriCure to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 26th. BTIG Research reissued a “hold” rating on shares of AtriCure in a research note on Thursday, August 2nd. Finally, ValuEngine upgraded shares of AtriCure from a “buy” rating to a “strong-buy” rating in a report on Friday, August 3rd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $33.00.

In related news, SVP Justin J. Noznesky sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $30.32, for a total value of $121,280.00. Following the transaction, the senior vice president now owns 124,920 shares in the company, valued at $3,787,574.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.70% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Highbridge Capital Management LLC acquired a new position in AtriCure during the 1st quarter valued at approximately $208,000. JPMorgan Chase & Co. lifted its holdings in AtriCure by 105.1% in the 1st quarter. JPMorgan Chase & Co. now owns 14,208 shares of the medical device company’s stock valued at $292,000 after purchasing an additional 7,281 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of AtriCure during the 2nd quarter worth about $301,000. BlueMountain Capital Management LLC grew its position in AtriCure by 121.8% in the second quarter. BlueMountain Capital Management LLC now owns 14,904 shares of the medical device company’s stock valued at $403,000 after acquiring an additional 8,184 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in AtriCure by 135.4% during the second quarter. GSA Capital Partners LLP now owns 26,054 shares of the medical device company’s stock worth $705,000 after purchasing an additional 14,984 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -38.19 and a beta of 0.17. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.16 and a quick ratio of 2.37.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Wednesday, August 1st. The medical device company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. AtriCure had a negative return on equity of 16.57% and a negative net margin of 10.85%. The business had revenue of $51.80 million during the quarter, compared to the consensus estimate of $49.94 million. During the same quarter in the prior year, the company posted ($0.21) earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts anticipate that AtriCure Inc. will post -0.89 earnings per share for the current year.

About AtriCure (NASDAQ:ATRC)

AtriCure, Inc provides atrial fibrillation solutions to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy; and EPi-Sense guided coagulation system used for the temporary cardiac signal sensing and recording during surgery.

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