Piper Sandler Forecasts Strong Price Appreciation for AtriCure (NASDAQ:ATRC) Stock

AtriCure (NASDAQ:ATRC) had its target price raised by equities research analysts at Piper Sandler from $40.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the medical device company’s stock. Piper Sandler’s target price indicates a potential upside of 26.86% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus lifted their price target on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday. Oppenheimer increased their target price on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and set a $60.00 price target on shares of AtriCure in a research note on Monday. UBS Group raised their price objective on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their target price on shares of AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AtriCure presently has an average rating of “Moderate Buy” and a consensus price target of $50.56.

AtriCure Price Performance

ATRC stock traded down $2.95 during mid-day trading on Thursday, reaching $39.42. 393,488 shares of the company’s stock were exchanged, compared to its average volume of 576,912. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -47.31 and a beta of 1.46. The stock’s 50 day moving average is $35.39 and its 200 day moving average is $31.09. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.11.

Hedge Funds Weigh In On AtriCure

Several institutional investors and hedge funds have recently made changes to their positions in the business. Champlain Investment Partners LLC increased its holdings in AtriCure by 4.3% in the third quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company’s stock valued at $78,253,000 after buying an additional 115,813 shares during the last quarter. Wellington Management Group LLP increased its stake in AtriCure by 0.4% during the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock valued at $43,291,000 after purchasing an additional 6,045 shares during the last quarter. State Street Corp increased its stake in AtriCure by 4.9% during 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 last quarter. Geode Capital Management LLC lifted its position in shares of AtriCure by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after buying an additional 32,676 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in AtriCure by 14.6% during the 3rd quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock valued at $18,621,000 after purchasing an additional 84,700 shares during the period. 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.