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

AtriCure, Inc. (NASDAQ:ATRC) has received an average recommendation of “Buy” from the nine analysts that are presently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have covered the stock in the last year is $51.56.

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $51.00 target price on shares of AtriCure in a report on Friday. Oppenheimer raised their price target on shares of AtriCure from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Piper Sandler boosted their price objective 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. Canaccord Genuity Group lifted their price target on shares of AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a research note 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 note on Thursday, February 13th.

Insider Activity

In related news, Director Karen Prange sold 6,100 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now owns 17,828 shares in the company, valued at approximately $679,603.36. This represents a 25.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

A number of institutional investors have recently made changes to their positions in the company. Hood River Capital Management LLC lifted its holdings in AtriCure by 3.3% during the 4th quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company’s stock worth $89,349,000 after purchasing an additional 93,131 shares during the last quarter. First Light Asset Management LLC increased its position in AtriCure by 5.6% during the 4th quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company’s stock worth $60,179,000 after buying an additional 103,685 shares during the period. Wellington Management Group LLP lifted its holdings in shares of AtriCure by 0.4% during the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock worth $43,291,000 after buying an additional 6,045 shares in the last quarter. State Street Corp boosted its position in shares of AtriCure by 4.9% in the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock valued at $37,710,000 after acquiring an additional 63,002 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of AtriCure by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock valued at $32,326,000 after acquiring an additional 32,676 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

AtriCure Stock Performance

Shares of ATRC stock opened at $35.09 on Tuesday. The company has a market capitalization of $1.72 billion, a P/E ratio of -36.94 and a beta of 1.53. AtriCure has a 52 week low of $18.94 and a 52 week 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 company’s 50 day moving average price is $38.23 and its two-hundred day moving average price is $33.83.

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.