AtriCure (NASDAQ:ATRC) Given New $52.00 Price Target at Canaccord Genuity Group

AtriCure (NASDAQ:ATRC) had its target price cut by research analysts at Canaccord Genuity Group from $66.00 to $52.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 51.29% from the stock’s current price.

A number of other research firms also recently weighed in on ATRC. JPMorgan Chase & Co. cut their price target on shares of AtriCure from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday. Oppenheimer upped their target price on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a report on Monday, February 10th. Stifel Nicolaus upped their target price on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $51.00 price objective on shares of AtriCure in a research note on Thursday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.44.

AtriCure Trading Up 2.2 %

Shares of NASDAQ:ATRC opened at $34.37 on Friday. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.11. 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 firm has a market capitalization of $1.68 billion, a P/E ratio of -36.18 and a beta of 1.53. The firm has a fifty day moving average of $38.10 and a two-hundred day moving average of $33.89.

Insiders Place Their Bets

In other AtriCure news, Director Karen Prange sold 6,100 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now directly owns 17,828 shares in the company, valued at approximately $679,603.36. This trade represents a 25.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Large investors have recently made changes to their positions in the company. Hood River Capital Management LLC raised its holdings in AtriCure by 3.3% during the 4th quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company’s stock worth $89,349,000 after purchasing an additional 93,131 shares during the last quarter. First Light Asset Management LLC raised its stake in shares of AtriCure by 5.6% during the fourth quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company’s stock worth $60,179,000 after buying an additional 103,685 shares during the last quarter. Wellington Management Group LLP boosted its stake in AtriCure by 0.4% in the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock valued at $43,291,000 after acquiring an additional 6,045 shares during the last quarter. State Street Corp grew its holdings in AtriCure by 4.9% during the 3rd quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock worth $37,710,000 after acquiring an additional 63,002 shares during the period. Finally, Geode Capital Management LLC grew its holdings in AtriCure by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after acquiring an additional 32,676 shares during the period. 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.