AtriCure, Inc. (NASDAQ:ATRC) Receives Average Rating of “Buy” from Brokerages

Shares of AtriCure, Inc. (NASDAQ:ATRC) have received an average recommendation of “Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $51.56.

ATRC has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. 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. Piper Sandler upped their price target on shares of AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 price objective on shares of AtriCure in a report on Thursday, February 13th. Finally, Stifel Nicolaus increased their price objective on shares of AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th.

AtriCure Price Performance

NASDAQ:ATRC opened at $38.50 on Friday. AtriCure has a one year low of $18.94 and a one year high of $43.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -40.53 and a beta of 1.46. The firm’s fifty day moving average is $36.86 and its two-hundred day moving average is $32.43.

Institutional Investors Weigh In On AtriCure

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in AtriCure by 1.8% during the 4th quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company’s stock valued at $414,000 after acquiring an additional 265 shares during the last quarter. Invesco Ltd. boosted its stake in AtriCure by 0.8% during the 4th 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. boosted its stake in AtriCure by 1.3% during the 4th quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company’s stock valued at $927,000 after acquiring an additional 400 shares during the last quarter. Truist Financial Corp boosted its stake in AtriCure by 2.6% during the 4th quarter. Truist Financial Corp now owns 15,717 shares of the medical device company’s stock valued at $480,000 after acquiring an additional 403 shares during the last quarter. Finally, State of Wyoming boosted its stake in AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock valued at $76,000 after acquiring an additional 446 shares during the last quarter. Institutional investors and hedge funds 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.