AtriCure (NASDAQ:ATRC) Price Target Raised to $51.00 at JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC) had its price target hoisted by analysts at JPMorgan Chase & Co. from $40.00 to $51.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 20.40% from the company’s previous close.

A number of other brokerages also recently issued reports on ATRC. Canaccord Genuity Group increased their price target on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, December 9th. UBS Group upped their price objective on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price objective on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities restated a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research report on Monday. Finally, Needham & Company LLC upped their price objective on shares of AtriCure from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, AtriCure has a consensus rating of “Moderate Buy” and a consensus target price of $46.44.

AtriCure Stock Performance

Shares of NASDAQ ATRC opened at $42.36 on Tuesday. The company’s fifty day moving average price is $35.39 and its 200 day moving average price is $31.09. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.11. The company has a market capitalization of $2.07 billion, a PE ratio of -51.04 and a beta of 1.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ATRC. State Street Corp boosted its stake in shares of AtriCure by 4.9% in the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock valued at $37,710,000 after purchasing an additional 63,002 shares during the period. Geode Capital Management LLC boosted its stake in shares of AtriCure by 2.9% in 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 during the period. Atom Investors LP purchased a new position in shares of AtriCure in the third quarter valued at approximately $1,741,000. SG Americas Securities LLC purchased a new position in AtriCure in the third quarter worth approximately $488,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in AtriCure by 31.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock worth $14,038,000 after acquiring an additional 119,929 shares during the last quarter. 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.