Analysts Set AtriCure, Inc. (NASDAQ:ATRC) PT at $51.56

AtriCure, Inc. (NASDAQ:ATRC) has been assigned an average recommendation of “Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $51.00.

A number of research analysts recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on shares of AtriCure from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday. Canaccord Genuity Group boosted their price objective on shares of AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Oppenheimer raised their target price on AtriCure from $36.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $51.00 price target on shares of AtriCure in a research report on Thursday.

Insider Transactions at AtriCure

In other news, Director Karen Prange sold 6,100 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of the sale, the director now owns 17,828 shares of the company’s stock, valued at $679,603.36. This trade represents a 25.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Several institutional investors have recently made changes to their positions in ATRC. Adage Capital Partners GP L.L.C. acquired a new stake in shares of AtriCure in the 4th quarter valued at about $9,168,000. Kennedy Capital Management LLC boosted its holdings in AtriCure by 29.8% in the fourth quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company’s stock worth $22,999,000 after acquiring an additional 172,648 shares in the last quarter. Marshall Wace LLP grew its stake in AtriCure by 37.1% in the fourth quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company’s stock valued at $18,922,000 after acquiring an additional 167,476 shares during the period. Oberweis Asset Management Inc. bought a new stake in shares of AtriCure during the fourth quarter valued at approximately $4,630,000. Finally, Dimensional Fund Advisors LP raised its position in shares of AtriCure by 24.1% during the fourth 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 during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Price Performance

AtriCure stock opened at $34.37 on Tuesday. The stock has a 50-day moving average price of $38.10 and a two-hundred day moving average price of $33.89. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11. The company has a market capitalization of $1.68 billion, a PE ratio of -36.18 and a beta of 1.53. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13.

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.