AtriCure, Inc. (NASDAQ:ATRC) Receives Average Rating of “Buy” from Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has received an average recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $43.38.

Several research firms recently issued reports on ATRC. UBS Group increased 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. Needham & Company LLC increased their target price on AtriCure from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $40.00 target price on shares of AtriCure in a research report on Tuesday, December 17th. Canaccord Genuity Group increased their target price on AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Oppenheimer increased their target price on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th.

AtriCure Stock Up 0.1 %

NASDAQ ATRC opened at $41.00 on Monday. The stock’s 50-day moving average price is $35.09 and its 200-day moving average price is $30.62. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.11. The company has a market capitalization of $2.00 billion, a P/E ratio of -49.40 and a beta of 1.46.

Hedge Funds Weigh In On AtriCure

Institutional investors have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in AtriCure during the 3rd quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new position in shares of AtriCure in the 4th quarter worth approximately $60,000. Venturi Wealth Management LLC boosted its holdings in shares of AtriCure by 1,337.6% in the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock worth $69,000 after purchasing an additional 2,100 shares during the period. KBC Group NV boosted its holdings 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 worth $72,000 after purchasing an additional 932 shares during the period. Finally, R Squared Ltd purchased a new position in shares of 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.