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

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

A number of other brokerages have also issued reports on ATRC. UBS Group boosted their target price on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JMP Securities reissued a “market outperform” rating and issued a $60.00 target price on shares of AtriCure in a research report on Monday. JPMorgan Chase & Co. boosted their price target on shares of AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Oppenheimer raised their price objective on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.56.

AtriCure Trading Down 6.5 %

AtriCure stock opened at $39.59 on Thursday. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.11. The firm’s 50 day moving average price is $35.52 and its two-hundred day moving average price is $31.17. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of -47.70 and a beta of 1.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62.

Hedge Funds Weigh In On AtriCure

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arcadia Investment Management Corp MI purchased a new stake in shares of AtriCure during the third quarter worth $28,000. Heck Capital Advisors LLC purchased a new stake in shares of AtriCure during the 4th quarter worth about $60,000. Venturi Wealth Management LLC lifted its holdings 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 valued at $69,000 after buying an additional 2,100 shares during the last quarter. KBC Group NV grew its stake in shares of 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 buying an additional 932 shares in the last quarter. Finally, R Squared Ltd acquired a new position in AtriCure in the fourth quarter worth approximately $89,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.