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 Thursday,Benzinga reports. Needham & Company LLC currently has a $51.00 price target on the medical device company’s stock.

Several other equities analysts have also recently weighed in on ATRC. JMP Securities restated a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a report on Monday, February 10th. Stifel Nicolaus raised their price target on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Oppenheimer raised their target price on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Canaccord Genuity Group upped their price target on shares of AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, AtriCure has an average rating of “Moderate Buy” and an average target price of $49.44.

AtriCure Stock Performance

Shares of ATRC opened at $31.83 on Thursday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -33.50 and a beta of 1.53. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11. The firm has a fifty day simple moving average of $37.97 and a 200 day simple moving average of $33.98. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13.

Insiders Place Their Bets

In other AtriCure news, Director Karen Prange sold 6,100 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the transaction, the director now owns 17,828 shares in the company, valued at $679,603.36. This trade represents a 25.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in AtriCure by 1.8% in the 4th quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company’s stock valued at $414,000 after buying an additional 265 shares during the period. Invesco Ltd. increased its stake in AtriCure by 0.8% in the fourth quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock valued at $1,334,000 after acquiring an additional 334 shares during the last quarter. Perkins Capital Management Inc. raised its position in AtriCure by 1.3% during the fourth quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company’s stock valued at $927,000 after purchasing an additional 400 shares in the last quarter. Truist Financial Corp lifted its stake in AtriCure by 2.6% during the fourth quarter. Truist Financial Corp now owns 15,717 shares of the medical device company’s stock worth $480,000 after purchasing an additional 403 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of AtriCure by 21.9% in the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 446 shares in the last quarter. 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.