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

AtriCure, Inc. (NASDAQ:ATRC) has been assigned an average recommendation of “Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $43.38.

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group upped their price target on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC upped their price target on shares of AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Oppenheimer upped their price target on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group increased their target price on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $40.00 target price on shares of AtriCure in a research note on Tuesday, December 17th.

AtriCure Stock Performance

ATRC opened at $39.87 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The company has a 50 day simple moving average of $34.72 and a two-hundred day simple moving average of $30.25. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.11. The firm has a market cap of $1.94 billion, a P/E ratio of -48.04 and a beta of 1.42.

Institutional Investors Weigh In On AtriCure

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Champlain Investment Partners LLC boosted its stake in AtriCure by 4.3% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company’s stock worth $78,253,000 after purchasing an additional 115,813 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of AtriCure by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock valued at $43,291,000 after acquiring an additional 6,045 shares during the last quarter. State Street Corp boosted its position in shares of AtriCure by 4.9% during the 3rd 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 last quarter. Geode Capital Management LLC boosted its position in shares of AtriCure by 2.9% during the 3rd 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 during the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of AtriCure by 14.6% during the 3rd quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock valued at $18,621,000 after acquiring an additional 84,700 shares during the last quarter. 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.