AtriCure’s (ATRC) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of AtriCure (NASDAQ:ATRC) in a research report released on Friday,Benzinga reports. The firm currently has a $51.00 price target on the medical device company’s stock.

ATRC has been the subject of a number of other reports. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 target price on shares of AtriCure in a report on Monday, February 10th. Piper Sandler lifted their price target on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Canaccord Genuity Group lifted their price target on shares of AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Stifel Nicolaus lifted their price objective on shares of AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. 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 currently has a consensus rating of “Moderate Buy” and an average target price of $51.56.

AtriCure Stock Down 3.7 %

Shares of AtriCure stock opened at $33.54 on Friday. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -35.30 and a beta of 1.53. The company’s 50 day moving average is $38.22 and its 200 day moving average is $33.77. AtriCure has a twelve month low of $18.94 and a twelve 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.

Insider Activity

In other news, Director Karen Prange sold 6,100 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the completion of the sale, the director now owns 17,828 shares in the company, valued at approximately $679,603.36. The trade was a 25.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Several large investors have recently modified their holdings of ATRC. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of AtriCure in the 3rd quarter valued at about $880,000. Commerce Bank raised its stake in shares of AtriCure by 23.5% during the 3rd quarter. Commerce Bank now owns 11,470 shares of the medical device company’s stock worth $322,000 after acquiring an additional 2,181 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of AtriCure by 39.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 185,819 shares of the medical device company’s stock worth $5,210,000 after acquiring an additional 52,533 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of AtriCure by 31.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock worth $14,038,000 after acquiring an additional 119,929 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of AtriCure during the 3rd quarter worth approximately $427,000. 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.