AtriCure (NASDAQ:ATRC) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of AtriCure (NASDAQ:ATRC) in a report released on Friday,Benzinga reports. They currently have a $51.00 price target on the medical device company’s stock.

Several other analysts have also commented on the company. Piper Sandler lifted 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. Oppenheimer lifted their target price on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Stifel Nicolaus lifted their target price on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group lifted their target price on AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.56.

AtriCure Stock Performance

Shares of ATRC opened at $33.54 on Friday. 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 one year low of $18.94 and a one year high of $43.11. The firm has a market capitalization of $1.64 billion, a P/E ratio of -35.30 and a beta of 1.53. The business has a fifty day moving average of $38.22 and a 200 day moving average of $33.66.

Insider Activity

In other news, Director Karen Prange sold 6,100 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now directly owns 17,828 shares in the company, valued at $679,603.36. The trade was a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Several large investors have recently made changes to their positions in ATRC. Adage Capital Partners GP L.L.C. purchased a new stake in shares of AtriCure in the fourth quarter worth about $9,168,000. Kennedy Capital Management LLC lifted its position in shares of AtriCure by 29.8% in the fourth 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 in the last quarter. Marshall Wace LLP lifted its position 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 buying an additional 167,476 shares in the last quarter. Oberweis Asset Management Inc. purchased a new stake in shares of AtriCure in the fourth quarter worth about $4,630,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of AtriCure by 24.1% in the fourth 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 in the last quarter. 99.11% of the stock is currently owned by hedge funds and other 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.