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

Needham & Company LLC reaffirmed their buy rating on shares of AtriCure (NASDAQ:ATRC) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $51.00 price objective on the medical device company’s stock.

Several other research analysts have also commented on ATRC. Oppenheimer lifted their target price on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. lifted their price target on shares of AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research report on Monday. Finally, UBS Group lifted their target price on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

AtriCure Price Performance

Shares of ATRC stock opened at $39.59 on Thursday. The firm has a market cap of $1.93 billion, a P/E ratio of -47.70 and a beta of 1.46. The firm has a fifty day moving average of $35.52 and a two-hundred day moving average of $31.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.11.

Hedge Funds Weigh In On AtriCure

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in 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 acquiring an additional 63,002 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 purchasing an additional 32,676 shares in the last quarter. Atom Investors LP acquired a new stake in AtriCure in the third quarter worth about $1,741,000. SG Americas Securities LLC bought a new position in AtriCure in the 3rd quarter valued at about $488,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in AtriCure by 31.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock valued at $14,038,000 after buying an additional 119,929 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.