AtriCure (NASDAQ:ATRC) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

AtriCure, Inc. (NASDAQ:ATRC)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $33.37 and traded as high as $33.76. AtriCure shares last traded at $33.31, with a volume of 624,270 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Canaccord Genuity Group increased their target price on shares of AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Piper Sandler boosted their price target on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research report on Monday, February 10th. Finally, Stifel Nicolaus upped their price target on AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and a consensus target price of $51.56.

AtriCure Trading Up 1.7 %

The company’s fifty day moving average is $38.10 and its two-hundred day moving average is $33.37. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -35.06 and a beta of 1.53.

Insider Transactions at AtriCure

In other AtriCure news, Director Karen Prange sold 6,100 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the sale, the director now directly owns 17,828 shares in the company, valued at $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. purchased a new stake in AtriCure in the 4th quarter valued at $9,168,000. Kennedy Capital Management LLC raised its holdings in shares of AtriCure by 29.8% in the fourth quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company’s stock valued at $22,999,000 after buying an additional 172,648 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of AtriCure by 37.1% during the fourth quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company’s stock worth $18,922,000 after buying an additional 167,476 shares during the period. Oberweis Asset Management Inc. purchased a new position in shares of AtriCure during the fourth quarter worth about $4,630,000. Finally, Dimensional Fund Advisors LP increased its position in AtriCure by 24.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company’s stock valued at $21,398,000 after acquiring an additional 136,015 shares during the period. 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.