AtriCure’s (ATRC) Buy Rating Reaffirmed at Needham & Company LLC

AtriCure (NASDAQ:ATRC)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $51.00 price objective on the medical device company’s stock. Needham & Company LLC’s price target indicates a potential upside of 20.40% from the company’s current price.

A number of other equities analysts also recently issued reports on ATRC. Canaccord Genuity Group raised their price objective on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. raised their target price on AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group lifted their price target on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a report on Monday. Finally, Oppenheimer boosted their target price on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, AtriCure currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

AtriCure Stock Up 2.0 %

Shares of NASDAQ ATRC opened at $42.36 on Thursday. The firm has a fifty day simple moving average of $35.39 and a two-hundred day simple moving average of $31.09. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.07 billion, a PE ratio of -51.04 and a beta of 1.46.

Hedge Funds Weigh In On AtriCure

Several large investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI bought a new stake in AtriCure during the 3rd quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new stake in shares of AtriCure during the fourth quarter valued at approximately $60,000. Venturi Wealth Management LLC increased its position in shares of AtriCure by 1,337.6% during the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock valued at $69,000 after acquiring an additional 2,100 shares in the last quarter. KBC Group NV increased its position in shares of AtriCure by 65.3% during the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock valued at $72,000 after acquiring an additional 932 shares in the last quarter. Finally, R Squared Ltd purchased a new position in AtriCure in the 4th quarter worth approximately $89,000. Hedge funds and other 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.