AtriCure (NASDAQ:ATRC) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

AtriCure (NASDAQ:ATRC) had its target price increased by analysts at Canaccord Genuity Group from $61.00 to $66.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 55.81% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price objective on shares of AtriCure in a research note on Thursday. Oppenheimer boosted their target price on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group increased their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” 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 report on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

AtriCure Price Performance

Shares of ATRC stock opened at $42.36 on Thursday. The firm’s 50 day moving average price is $35.39 and its two-hundred day moving average price is $31.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. AtriCure has a 52-week low of $18.94 and a 52-week high of $43.11. The stock has a market cap of $2.07 billion, a PE ratio of -51.04 and a beta of 1.46.

Institutional Investors Weigh In On AtriCure

Several large investors have recently made changes to their positions in ATRC. Truist Financial Corp boosted its stake in AtriCure by 13.8% in the 2nd quarter. Truist Financial Corp now owns 15,184 shares of the medical device company’s stock worth $346,000 after purchasing an additional 1,842 shares during the period. SG Americas Securities LLC bought a new stake in shares of AtriCure in the third quarter valued at about $488,000. Creative Planning acquired a new position in shares of AtriCure during the third quarter worth about $321,000. nVerses Capital LLC grew its holdings in shares of AtriCure by 733.3% during the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after buying an additional 4,400 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in AtriCure by 151.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock valued at $6,425,000 after acquiring an additional 138,046 shares in the last quarter. 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.