Oppenheimer Forecasts Strong Price Appreciation for AtriCure (NASDAQ:ATRC) Stock

AtriCure (NASDAQ:ATRC) had its target price boosted by investment analysts at Oppenheimer from $36.00 to $45.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the medical device company’s stock. Oppenheimer’s target price would suggest a potential upside of 15.93% from the stock’s current price.

Several other brokerages have also issued reports on ATRC. Needham & Company LLC restated a “buy” rating and issued a $51.00 price objective on shares of AtriCure in a report on Thursday. JMP Securities reiterated a “market outperform” rating and set a $60.00 target price on shares of AtriCure in a research note on Monday. JPMorgan Chase & Co. raised their price target on AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday. Stifel Nicolaus increased their price objective on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a report on Thursday. Finally, Piper Sandler upped their price target on AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, AtriCure presently has an average rating of “Moderate Buy” and an average target price of $51.56.

AtriCure Stock Performance

Shares of ATRC stock traded down $3.54 during mid-day trading on Thursday, reaching $38.82. The stock had a trading volume of 450,105 shares, compared to its average volume of 578,552. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.11. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -46.77 and a beta of 1.46. The business’s fifty day moving average is $35.52 and its 200-day moving average is $31.17.

Institutional Trading of AtriCure

Several institutional investors and hedge funds have recently modified their holdings of ATRC. Renaissance Technologies LLC lifted its stake in shares of AtriCure by 67.1% during the 4th quarter. Renaissance Technologies LLC now owns 163,900 shares of the medical device company’s stock worth $5,009,000 after purchasing an additional 65,800 shares during the period. Invesco Ltd. increased its stake in shares of AtriCure by 0.8% during the 4th quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock valued at $1,334,000 after acquiring an additional 334 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in AtriCure by 8.5% in the fourth quarter. Russell Investments Group Ltd. now owns 156,649 shares of the medical device company’s stock valued at $4,787,000 after purchasing an additional 12,212 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in AtriCure during the fourth quarter worth approximately $988,000. Finally, Astra Wealth Partners LLC purchased a new position in AtriCure during the fourth quarter worth approximately $246,000. 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.