AtriCure (NASDAQ:ATRC) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

AtriCure (NASDAQ:ATRC) had its price target upped by research analysts at Canaccord Genuity Group from $61.00 to $66.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 61.21% from the stock’s current price.

A number of other equities analysts have also weighed in on ATRC. Oppenheimer upped their price target on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of AtriCure in a research report on Monday, February 10th. UBS Group upped their price target on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $51.00 target price on shares of AtriCure in a report on Thursday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.56.

AtriCure Stock Performance

ATRC opened at $40.94 on Thursday. The firm has a market cap of $2.00 billion, a P/E ratio of -49.33 and a beta of 1.46. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.11. The company has a 50 day simple moving average of $35.63 and a two-hundred day simple moving average of $31.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59.

Institutional Investors Weigh In On AtriCure

Hedge funds have recently bought and sold shares of the business. Arcadia Investment Management Corp MI purchased a new stake in AtriCure during the third quarter valued at $28,000. Johnson Financial Group Inc. raised its stake in AtriCure by 1,184.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock valued at $49,000 after purchasing an additional 1,492 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in AtriCure during the fourth quarter valued at $60,000. Venturi Wealth Management LLC raised its stake in 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 valued at $69,000 after purchasing an additional 2,100 shares in the last quarter. Finally, KBC Group NV raised its stake in AtriCure by 65.3% during the fourth 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 in the last quarter. Hedge funds and other 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.