AtriCure, Inc. (NASDAQ:ATRC) Receives $51.56 Average Price Target from Brokerages

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been given an average recommendation of “Buy” by the nine ratings firms that are covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $51.56.

ATRC has been the subject of several research reports. JMP Securities reissued a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research note on Monday, February 10th. Piper Sandler boosted 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. Oppenheimer boosted their price objective on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Canaccord Genuity Group lifted their target price 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, Stifel Nicolaus lifted their target price on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 13th.

Hedge Funds Weigh In On AtriCure

Institutional investors have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI acquired a new position in AtriCure in the 3rd quarter worth $28,000. Johnson Financial Group Inc. lifted its holdings in AtriCure by 1,184.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock worth $49,000 after buying an additional 1,492 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in AtriCure in the 4th quarter worth $60,000. Venturi Wealth Management LLC lifted its holdings in AtriCure by 1,337.6% in the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock worth $69,000 after buying an additional 2,100 shares in the last quarter. Finally, KBC Group NV lifted its holdings in AtriCure by 65.3% in the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock worth $72,000 after buying an additional 932 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Stock Down 2.1 %

Shares of NASDAQ ATRC opened at $38.16 on Friday. AtriCure has a 52-week low of $18.94 and a 52-week high of $43.11. The firm has a fifty day moving average of $37.52 and a 200-day moving average of $32.95. The stock has a market capitalization of $1.87 billion, a PE ratio of -40.17 and a beta of 1.46. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13.

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.