AtriCure, Inc. (NASDAQ:ATRC) Given Average Rating of “Buy” by Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned an average recommendation of “Buy” from the nine research firms that are presently covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued a report on the stock in the last year is $49.44.

A number of analysts have issued reports on ATRC shares. BTIG Research reissued a “buy” rating on shares of AtriCure in a research report on Thursday. Piper Sandler lifted their price objective on AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a research note on Monday, February 10th. Needham & Company LLC reiterated a “buy” rating and set a $51.00 target price on shares of AtriCure in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their price target on shares of AtriCure from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday.

AtriCure Trading Down 7.4 %

NASDAQ:ATRC opened at $31.83 on Tuesday. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $37.97 and its 200 day moving average is $33.98. The stock has a market capitalization of $1.56 billion, a PE ratio of -33.50 and a beta of 1.53.

Insider Activity

In related 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 sale, the director now owns 17,828 shares in the company, valued at approximately $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On AtriCure

Institutional investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC boosted its position in shares of 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 valued at $89,349,000 after acquiring an additional 93,131 shares during the last quarter. First Light Asset Management LLC lifted its position in 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 valued at $60,179,000 after purchasing an additional 103,685 shares during the last quarter. Wellington Management Group LLP lifted its position in AtriCure by 0.4% during 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 purchasing an additional 6,045 shares during the last quarter. State Street Corp grew its stake in AtriCure by 4.9% in the 3rd quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock worth $37,710,000 after buying an additional 63,002 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of AtriCure by 2.9% in 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 buying an additional 32,676 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

AtriCure Company Profile

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.