AtriCure (NASDAQ:ATRC) Given Buy Rating at Needham & Company LLC

AtriCure (NASDAQ:ATRC)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $51.00 price target on the medical device company’s stock. Needham & Company LLC’s price target points to a potential upside of 20.40% from the company’s previous close.

ATRC has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their target price on shares of AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday. Oppenheimer lifted their price objective on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. UBS Group increased their target price on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JMP Securities restated a “market outperform” rating and set a $60.00 price target on shares of AtriCure in a research note on Monday. Finally, Canaccord Genuity Group increased their price objective on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

AtriCure Stock Performance

Shares of ATRC stock opened at $42.36 on Thursday. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $35.39 and a 200-day moving average price of $31.09. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.11. The firm has a market capitalization of $2.07 billion, a PE ratio of -51.04 and a beta of 1.46.

Hedge Funds Weigh In On AtriCure

Hedge funds have recently modified their holdings of the company. State Street Corp raised its position in shares of AtriCure by 4.9% during the 3rd quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock valued at $37,710,000 after purchasing an additional 63,002 shares during the period. Geode Capital Management LLC raised its holdings in AtriCure by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock valued at $32,326,000 after acquiring an additional 32,676 shares during the period. Atom Investors LP purchased a new position in shares of AtriCure in the third quarter valued at about $1,741,000. SG Americas Securities LLC purchased a new position in shares of AtriCure in the third quarter valued at about $488,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of AtriCure by 31.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock worth $14,038,000 after acquiring an additional 119,929 shares during the period. 99.11% of the stock is currently owned by institutional investors.

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.