JPMorgan Chase & Co. Issues Positive Forecast for AtriCure (NASDAQ:ATRC) Stock Price

AtriCure (NASDAQ:ATRC) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $40.00 to $51.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 22.29% from the stock’s previous close.

ATRC has been the subject of several other research reports. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a research note on Monday. 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. Needham & Company LLC upped their target price on AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group increased their target price on AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Oppenheimer boosted their price target on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, AtriCure currently has a consensus rating of “Moderate Buy” and an average target price of $46.44.

AtriCure Stock Performance

Shares of NASDAQ ATRC traded down $0.32 during mid-day trading on Tuesday, hitting $41.70. 68,316 shares of the company were exchanged, compared to its average volume of 568,828. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -50.24 and a beta of 1.46. 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 1-year low of $18.94 and a 1-year high of $43.11. The stock has a 50 day simple moving average of $35.19 and a 200-day simple moving average of $30.83.

Institutional Trading of AtriCure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in shares of AtriCure by 1.8% in the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company’s stock worth $414,000 after acquiring an additional 265 shares during the last quarter. Truist Financial Corp increased its holdings in shares of AtriCure by 2.6% during the 4th quarter. Truist Financial Corp now owns 15,717 shares of the medical device company’s stock worth $480,000 after buying an additional 403 shares during the last quarter. Franklin Resources Inc. boosted its holdings in AtriCure by 0.9% in the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock valued at $1,569,000 after acquiring an additional 484 shares during the last quarter. Swiss National Bank grew its position in AtriCure by 0.7% during the fourth quarter. Swiss National Bank now owns 95,800 shares of the medical device company’s stock valued at $2,928,000 after acquiring an additional 700 shares during the period. Finally, KBC Group NV increased its stake in AtriCure by 65.3% during the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock worth $72,000 after acquiring an additional 932 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.