JMP Securities Reaffirms “Market Outperform” Rating for AtriCure (NASDAQ:ATRC)

AtriCure (NASDAQ:ATRC)‘s stock had its “market outperform” rating reissued by research analysts at JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $60.00 price objective on the medical device company’s stock. JMP Securities’ price objective would suggest a potential upside of 44.54% from the company’s previous close.

ATRC has been the topic of a number of other reports. Needham & Company LLC upped their price target on AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. restated an “overweight” rating and set a $40.00 target price on shares of AtriCure in a report on Tuesday, December 17th. Canaccord Genuity Group upped their price target on AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. UBS Group increased their target price on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer increased their target price on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, AtriCure presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.44.

AtriCure Stock Down 1.2 %

Shares of ATRC stock opened at $41.51 on Monday. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11. The firm has a market cap of $2.02 billion, a PE ratio of -50.01 and a beta of 1.46. The stock has a 50 day moving average of $35.29 and a 200-day moving average of $30.96. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ATRC. Arcadia Investment Management Corp MI bought a new position in AtriCure in the third quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in AtriCure during the 4th quarter worth approximately $60,000. Venturi Wealth Management LLC raised its holdings in 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 valued at $69,000 after acquiring an additional 2,100 shares in the last quarter. KBC Group NV raised its holdings in AtriCure by 65.3% in the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock valued at $72,000 after acquiring an additional 932 shares in the last quarter. Finally, R Squared Ltd acquired a new position in AtriCure in the 4th quarter valued at $89,000. 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.