AtriCure, Inc. (NASDAQ:ATRC) Receives $43.38 Average Price Target from Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has earned an average rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $43.38.

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $40.00 price objective on shares of AtriCure in a research report on Tuesday, December 17th. Oppenheimer increased their price objective on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Needham & Company LLC increased their price objective on AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, UBS Group increased their price objective on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. AlphaQuest LLC lifted its holdings in AtriCure by 855.1% in the fourth quarter. AlphaQuest LLC now owns 5,062 shares of the medical device company’s stock valued at $155,000 after acquiring an additional 4,532 shares during the period. Raymond James Financial Inc. bought a new position in shares of AtriCure in the fourth quarter worth about $3,716,000. M&T Bank Corp bought a new position in shares of AtriCure in the fourth quarter worth about $208,000. Charles Schwab Investment Management Inc. raised its stake in shares of AtriCure by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 399,428 shares of the medical device company’s stock worth $12,207,000 after buying an additional 4,844 shares during the period. Finally, Versor Investments LP bought a new position in shares of AtriCure in the fourth quarter worth about $217,000. Institutional investors own 99.11% of the company’s stock.

AtriCure Trading Up 0.1 %

NASDAQ ATRC opened at $41.00 on Monday. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11. The stock has a market cap of $2.00 billion, a P/E ratio of -49.40 and a beta of 1.46. The stock’s fifty day moving average price is $35.09 and its 200-day moving average price is $30.62. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13.

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.