AtriCure (NASDAQ:ATRC) Price Target Raised to $51.00

AtriCure (NASDAQ:ATRC) had its price target boosted by JPMorgan Chase & Co. from $40.00 to $51.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the medical device company’s stock.

Several other research firms have also commented on ATRC. UBS Group lifted their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer lifted their price target on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a report on Monday, December 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of AtriCure in a report on Monday. Finally, Needham & Company LLC lifted their price target on shares of AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

AtriCure Price Performance

ATRC opened at $39.59 on Tuesday. The company has a 50-day moving average of $35.52 and a 200-day moving average of $31.17. The company has a market capitalization of $1.93 billion, a P/E ratio of -47.70 and a beta of 1.46. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.11. 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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new position in AtriCure during the 3rd quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new position in AtriCure during the 4th quarter valued at about $60,000. Venturi Wealth Management LLC raised its position in shares of AtriCure by 1,337.6% during 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. KBC Group NV raised its position in shares of AtriCure by 65.3% during 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. Finally, R Squared Ltd bought a new stake in shares of AtriCure during the 4th quarter worth about $89,000. 99.11% of the stock is owned by institutional investors and hedge funds.

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.