AtriCure (NASDAQ:ATRC) Price Target Raised to $51.00

AtriCure (NASDAQ:ATRC) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $40.00 to $51.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 22.29% from the company’s current price.

A number of other analysts have also issued reports on the company. Needham & Company LLC boosted their target price on AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 target price on shares of AtriCure in a research report on Monday. Canaccord Genuity Group lifted their price objective on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a report on Monday, December 9th. UBS Group raised their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer lifted their target price on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AtriCure currently has an average rating of “Moderate Buy” and a consensus target price of $46.44.

AtriCure Trading Down 0.8 %

NASDAQ ATRC traded down $0.32 during trading hours on Tuesday, reaching $41.70. The company had a trading volume of 68,316 shares, compared to its average volume of 568,828. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.11. The stock has a market capitalization of $2.03 billion, a P/E ratio of -50.24 and a beta of 1.46. The stock has a 50-day moving average of $35.19 and a 200 day moving average of $30.83. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13.

Institutional Investors Weigh In On AtriCure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arcadia Investment Management Corp MI acquired a new stake in AtriCure during the third quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new stake in AtriCure in the fourth quarter valued at $60,000. Venturi Wealth Management LLC increased its position in shares of AtriCure by 1,337.6% during the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock worth $69,000 after purchasing an additional 2,100 shares in the last quarter. KBC Group NV boosted its position in shares of 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 purchasing an additional 932 shares during the period. Finally, R Squared Ltd purchased a new position in AtriCure during the 4th quarter worth approximately $89,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.