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

AtriCure, Inc. (NASDAQ:ATRC) has received an average recommendation of “Buy” from the nine analysts that are covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $51.56.

ATRC has been the topic of several recent analyst reports. Piper Sandler raised their target price on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” 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 company a “buy” rating in a research note on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research report on Monday, February 10th. Canaccord Genuity Group raised their target price on AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $51.00 price target on shares of AtriCure in a report on Friday.

AtriCure Trading Up 4.6 %

Shares of NASDAQ:ATRC opened at $35.09 on Tuesday. The business’s 50 day simple moving average is $38.23 and its 200 day simple moving average is $33.83. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The company has a market capitalization of $1.72 billion, a P/E ratio of -36.94 and a beta of 1.53.

Insider Buying and Selling

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 completion of the sale, the director now directly owns 17,828 shares in the company, valued at $679,603.36. This represents a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AtriCure

Institutional investors and hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. bought a new stake in shares of AtriCure during the fourth quarter valued at approximately $9,168,000. Kennedy Capital Management LLC raised its holdings in shares of AtriCure by 29.8% in the fourth quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company’s stock valued at $22,999,000 after purchasing an additional 172,648 shares during the last quarter. Marshall Wace LLP lifted its position in shares of AtriCure by 37.1% during the fourth quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company’s stock valued at $18,922,000 after purchasing an additional 167,476 shares in the last quarter. Oberweis Asset Management Inc. purchased a new position in AtriCure during the fourth quarter worth about $4,630,000. Finally, Dimensional Fund Advisors LP grew its position in AtriCure by 24.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company’s stock worth $21,398,000 after purchasing an additional 136,015 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.