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

Needham & Company LLC reissued their buy rating on shares of AtriCure (NASDAQ:ATRC) in a research note published on Thursday,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. JPMorgan Chase & Co. upped their target price on AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a research note on Monday, February 10th. Oppenheimer increased their target price on shares of AtriCure from $36.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Canaccord Genuity Group boosted their price target on shares of AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Piper Sandler increased their price objective on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and a consensus target price of $51.00.

AtriCure Stock Performance

AtriCure stock opened at $34.37 on Thursday. 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 company has a market capitalization of $1.68 billion, a PE ratio of -36.18 and a beta of 1.53. The company has a 50 day moving average price of $38.10 and a 200-day moving average price of $33.89. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $43.11.

Insider Transactions at AtriCure

In related news, Director Karen Prange sold 6,100 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the transaction, the director now directly owns 17,828 shares in the company, valued at $679,603.36. The trade was a 25.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commerce Bank increased its holdings in shares of AtriCure by 23.5% during the third quarter. Commerce Bank now owns 11,470 shares of the medical device company’s stock valued at $322,000 after acquiring an additional 2,181 shares in the last quarter. Intech Investment Management LLC acquired a new position in AtriCure during the 3rd quarter valued at approximately $427,000. Charles Schwab Investment Management Inc. raised 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 worth $11,064,000 after buying an additional 5,812 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of AtriCure during the third quarter worth $1,991,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of AtriCure by 38.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,053 shares of the medical device company’s stock valued at $394,000 after buying an additional 3,880 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.