Needham & Company LLC Reaffirms “Buy” Rating for AtriCure (NASDAQ:ATRC)

Needham & Company LLC reaffirmed their buy rating on shares of AtriCure (NASDAQ:ATRC) in a research report sent to investors on Friday,Benzinga reports. They currently have a $51.00 price target on the medical device company’s stock.

Several other analysts also recently commented on ATRC. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a report on Monday, February 10th. Oppenheimer upped their price objective on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Canaccord Genuity Group upped their price objective on shares of AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on shares of AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Piper Sandler upped their price objective on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, AtriCure presently has an average rating of “Moderate Buy” and a consensus price target of $51.56.

AtriCure Stock Down 3.7 %

ATRC stock opened at $33.54 on Friday. The firm’s fifty day simple moving average is $38.22 and its 200-day simple moving average is $33.77. The company has a market capitalization of $1.64 billion, a P/E ratio of -35.30 and a beta of 1.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11.

Insider Buying and Selling

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

Hedge Funds Weigh In On AtriCure

A number of large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in AtriCure by 1.8% during the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company’s stock worth $414,000 after acquiring an additional 265 shares during the period. Invesco Ltd. raised its position in AtriCure by 0.8% during the fourth quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock worth $1,334,000 after acquiring an additional 334 shares during the period. Perkins Capital Management Inc. raised its position in AtriCure by 1.3% during the fourth quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company’s stock worth $927,000 after acquiring an additional 400 shares during the period. Truist Financial Corp raised its position in AtriCure by 2.6% during the fourth quarter. Truist Financial Corp now owns 15,717 shares of the medical device company’s stock worth $480,000 after acquiring an additional 403 shares during the period. Finally, State of Wyoming raised its position in AtriCure by 21.9% during the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock worth $76,000 after acquiring an additional 446 shares during the period. 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.