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 report released on Friday,Benzinga reports. They currently have a $51.00 price target on the medical device company’s stock.

Several other brokerages have also recently weighed in on ATRC. Canaccord Genuity Group boosted their price objective on AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Oppenheimer upped their target price on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Piper Sandler upped their target price on AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $60.00 target price on shares of AtriCure in a research note on Monday, February 10th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, AtriCure currently has an average rating of “Moderate Buy” and an average price target of $51.56.

AtriCure Trading Down 3.7 %

Shares of NASDAQ ATRC opened at $33.54 on Friday. The business’s 50 day moving average is $38.22 and its two-hundred day moving average is $33.66. 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 1-year low of $18.94 and a 1-year high of $43.11. The stock has a market capitalization of $1.64 billion, a P/E ratio of -35.30 and a beta of 1.53.

Insider Activity at AtriCure

In related news, Director Karen Prange sold 6,100 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the completion of the sale, the director now owns 17,828 shares in the company, valued at approximately $679,603.36. The trade was a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by company insiders.

Institutional Trading of AtriCure

A number of hedge funds have recently bought and sold shares of ATRC. Johnson Financial Group Inc. lifted its holdings in AtriCure by 1,184.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock worth $49,000 after buying an additional 1,492 shares during the period. Heck Capital Advisors LLC purchased a new stake in AtriCure during the fourth quarter worth $60,000. Venturi Wealth Management LLC lifted its holdings in AtriCure by 1,337.6% during the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock worth $69,000 after buying an additional 2,100 shares during the period. KBC Group NV lifted its holdings in AtriCure by 65.3% during the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock worth $72,000 after buying an additional 932 shares during the period. Finally, State of Wyoming lifted its holdings in AtriCure by 21.9% during the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock worth $76,000 after buying an additional 446 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.