Analysts Set AtriCure, Inc. (NASDAQ:ATRC) Target Price at $51.56

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned an average recommendation of “Buy” from the nine analysts that are currently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $51.00.

ATRC has been the topic of several research analyst reports. Stifel Nicolaus increased their price objective on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of AtriCure in a report on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on AtriCure from $51.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday. Piper Sandler increased their target price on AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $51.00 price target on shares of AtriCure in a report on Thursday.

Insiders Place Their Bets

In other AtriCure news, Director Karen Prange sold 6,100 shares of the stock in a transaction dated 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 in the company, valued at $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 the SEC website. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Hedge funds and other institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. bought a new position in AtriCure in the fourth quarter valued at approximately $9,168,000. Kennedy Capital Management LLC boosted its holdings in shares of AtriCure by 29.8% in the 4th quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company’s stock valued at $22,999,000 after purchasing an additional 172,648 shares in the last quarter. Marshall Wace LLP increased its stake in shares of AtriCure by 37.1% in the 4th quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company’s stock valued at $18,922,000 after purchasing an additional 167,476 shares during the last quarter. Oberweis Asset Management Inc. acquired a new position in shares of AtriCure during the 4th quarter worth $4,630,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of AtriCure by 24.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company’s stock worth $21,398,000 after buying an additional 136,015 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Stock Up 2.2 %

ATRC stock opened at $34.37 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The stock has a market capitalization of $1.68 billion, a P/E ratio of -36.18 and a beta of 1.53. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $43.11. The business has a 50-day moving average of $38.10 and a 200-day moving average of $33.89.

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.