Oppenheimer Issues Positive Forecast for AtriCure (NASDAQ:ATRC) Stock Price

AtriCure (NASDAQ:ATRC) had its target price upped by stock analysts at Oppenheimer from $36.00 to $45.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the medical device company’s stock. Oppenheimer’s target price suggests a potential upside of 15.93% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a research note on Monday. Needham & Company LLC reissued a “buy” rating and set a $51.00 target price on shares of AtriCure in a research report on Thursday. Stifel Nicolaus upped their target price on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a report on Thursday. UBS Group increased their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their target price on AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, AtriCure currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

AtriCure Price Performance

NASDAQ:ATRC traded down $3.54 during trading hours on Thursday, hitting $38.82. The company’s stock had a trading volume of 450,105 shares, compared to its average volume of 578,552. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.11. The stock has a fifty day simple moving average of $35.52 and a 200-day simple moving average of $31.17. The company has a market capitalization of $1.89 billion, a P/E ratio of -46.77 and a beta of 1.46.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATRC. Renaissance Technologies LLC lifted its holdings in shares of AtriCure by 67.1% in the 4th quarter. Renaissance Technologies LLC now owns 163,900 shares of the medical device company’s stock valued at $5,009,000 after acquiring an additional 65,800 shares during the last quarter. Invesco Ltd. raised its holdings in shares of AtriCure by 0.8% in the 4th quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock valued at $1,334,000 after purchasing an additional 334 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of AtriCure by 8.5% in the 4th quarter. Russell Investments Group Ltd. now owns 156,649 shares of the medical device company’s stock worth $4,787,000 after purchasing an additional 12,212 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in AtriCure during the fourth quarter worth $988,000. Finally, Astra Wealth Partners LLC purchased a new position in shares of AtriCure in the 4th quarter valued at $246,000. 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.