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

AtriCure (NASDAQ:ATRC)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $51.00 target price on the medical device company’s stock. Needham & Company LLC’s price target suggests a potential upside of 51.70% from the company’s current price.

A number of other analysts have also weighed in on the stock. 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 report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a research report on Monday, February 10th. Piper Sandler boosted their target price on AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Stifel Nicolaus raised their price target on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Oppenheimer lifted their price target on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.56.

AtriCure Trading Down 3.5 %

Shares of ATRC opened at $33.62 on Thursday. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.11. The stock has a market cap of $1.64 billion, a PE ratio of -35.39 and a beta of 1.53. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $38.17 and its 200-day moving average price is $33.89.

Insider Activity

In related news, Director Karen Prange sold 6,100 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of the sale, the director now directly owns 17,828 shares in the company, valued at $679,603.36. This represents a 25.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.20% of the company’s stock.

Institutional Trading of AtriCure

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. bought a new stake in AtriCure during the 4th quarter valued at $9,168,000. Kennedy Capital Management LLC lifted its position in shares of AtriCure by 29.8% in the 4th quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company’s stock worth $22,999,000 after purchasing an additional 172,648 shares during the period. Marshall Wace LLP boosted its stake in shares of AtriCure by 37.1% during the 4th quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company’s stock valued at $18,922,000 after purchasing an additional 167,476 shares in the last quarter. Oberweis Asset Management Inc. purchased a new position in shares of AtriCure during the fourth quarter valued at about $4,630,000. Finally, Dimensional Fund Advisors LP raised its stake in AtriCure by 24.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company’s stock worth $21,398,000 after buying an additional 136,015 shares in the last quarter. Institutional investors 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.