AtriCure (NASDAQ:ATRC) Stock Price Passes Above 200-Day Moving Average – Here’s Why

AtriCure, Inc. (NASDAQ:ATRC)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on ATRC. Stifel Nicolaus upped 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 price objective on shares of AtriCure in a 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 note on Thursday, February 13th. Canaccord Genuity Group upped their target price 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. Finally, Oppenheimer increased their target price on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, AtriCure has a consensus rating of “Moderate Buy” and a consensus target price of $51.56.

AtriCure Trading Up 1.7 %

The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $38.10 and a 200-day moving average of $33.37. The stock has a market cap of $1.63 billion, a PE ratio of -35.06 and a beta of 1.53.

Insider Activity at AtriCure

In other AtriCure news, Director Karen Prange sold 6,100 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the transaction, the director now owns 17,828 shares of the company’s stock, valued at $679,603.36. This represents a 25.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AtriCure

Several institutional investors have recently added to or reduced their stakes in ATRC. Johnson Financial Group Inc. increased its position 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 worth $49,000 after purchasing an additional 1,492 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of AtriCure during the 4th quarter worth about $60,000. Venturi Wealth Management LLC raised its stake in shares of AtriCure by 1,337.6% in the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock valued at $69,000 after acquiring an additional 2,100 shares during the period. KBC Group NV boosted its holdings in AtriCure by 65.3% in the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock worth $72,000 after acquiring an additional 932 shares during the period. Finally, State of Wyoming grew its holdings 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 purchasing an additional 446 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.