Brokerages Set AtriCure, Inc. (NASDAQ:ATRC) PT at $51.56

AtriCure, Inc. (NASDAQ:ATRC) has earned a consensus recommendation of “Buy” from the nine research firms that are currently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $49.44.

Several research firms recently weighed in on ATRC. Piper Sandler upped their price objective on shares of AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and set a $60.00 price target on shares of AtriCure in a research report on Monday, February 10th. Canaccord Genuity Group decreased their price objective on shares of AtriCure from $66.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $51.00 target price on shares of AtriCure in a research note on Thursday. Finally, BTIG Research reiterated a “buy” rating on shares of AtriCure in a research note on Thursday.

Insider Activity

In related news, Director Karen Prange sold 6,100 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the sale, the director now owns 17,828 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ATRC. Commerce Bank raised its stake in AtriCure by 23.5% during the third quarter. Commerce Bank now owns 11,470 shares of the medical device company’s stock worth $322,000 after buying an additional 2,181 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of AtriCure in the 3rd quarter worth about $427,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of AtriCure by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 394,584 shares of the medical device company’s stock valued at $11,064,000 after purchasing an additional 5,812 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in AtriCure by 2.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 120,483 shares of the medical device company’s stock valued at $3,378,000 after acquiring an additional 2,662 shares in the last quarter. Finally, Millrace Asset Group Inc. lifted its position in shares of AtriCure by 2.4% during the third quarter. Millrace Asset Group Inc. now owns 71,708 shares of the medical device company’s stock valued at $2,011,000 after purchasing an additional 1,660 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Stock Performance

NASDAQ:ATRC opened at $31.83 on Tuesday. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -33.50 and a beta of 1.53. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $43.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. The stock has a fifty day moving average price of $37.97 and a 200-day moving average price of $33.98.

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.