AtriCure’s (ATRC) “Buy” Rating Reaffirmed at Needham & Company LLC

AtriCure (NASDAQ:ATRC)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research 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 would indicate a potential upside of 51.70% from the company’s current price.

Several other research analysts also recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and issued a $60.00 target price on shares of AtriCure in a research note on Monday, February 10th. Stifel Nicolaus increased their target price on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Canaccord Genuity Group lifted their target price on AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their price target on AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, 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. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.56.

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $33.62 on Thursday. The business has a fifty day moving average price of $38.17 and a 200-day moving average price of $33.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The company has a market capitalization of $1.64 billion, a PE ratio of -35.39 and a beta of 1.53. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.11.

Insiders Place Their Bets

In other AtriCure 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 transaction of $232,532.00. Following the completion of the sale, the director now owns 17,828 shares of the company’s stock, valued at approximately $679,603.36. The trade was a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC bought a new stake in AtriCure during the 4th quarter worth approximately $60,000. Mackenzie Financial Corp purchased a new stake in shares of AtriCure in the fourth quarter worth $465,000. State of Wyoming raised its position in shares of AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 446 shares during the period. Sherbrooke Park Advisers LLC bought a new stake in shares of AtriCure during the 4th quarter valued at $330,000. Finally, ProShare Advisors LLC lifted its stake in shares of AtriCure by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 13,330 shares of the medical device company’s stock valued at $407,000 after buying an additional 4,385 shares in the last quarter. 99.11% of the stock is 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.