AtriCure (NASDAQ:ATRC) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of AtriCure (NASDAQ:ATRC) in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $51.00 target price on the medical device company’s stock.

A number of other research analysts also recently issued reports on ATRC. JPMorgan Chase & Co. boosted their target price on shares of AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Stifel Nicolaus boosted their price objective on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Oppenheimer upped their target price on AtriCure from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Canaccord Genuity Group boosted their price target on AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Piper Sandler upped their price objective on AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, AtriCure has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

AtriCure Stock Performance

ATRC opened at $34.37 on Thursday. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.11. The firm has a 50 day moving average of $38.10 and a two-hundred day moving average of $33.89. The firm has a market capitalization of $1.68 billion, a PE ratio of -36.18 and a beta of 1.53.

Insider Activity at AtriCure

In other AtriCure news, Director Karen Prange sold 6,100 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the transaction, the director now directly owns 17,828 shares of the company’s stock, valued at $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ATRC. Johnson Financial Group Inc. increased its stake in AtriCure by 1,184.1% during 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 purchased a new stake in shares of AtriCure during the fourth quarter worth approximately $60,000. Venturi Wealth Management LLC raised its stake 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 valued at $69,000 after purchasing an additional 2,100 shares during the last quarter. KBC Group NV raised its stake in AtriCure by 65.3% in the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock valued at $72,000 after purchasing an additional 932 shares during the last quarter. Finally, State of Wyoming lifted its holdings in AtriCure by 21.9% in the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 446 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.