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

AtriCure (NASDAQ:ATRC)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $51.00 target price on the medical device company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 60.23% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Oppenheimer boosted their price objective on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Stifel Nicolaus raised their target price on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped 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. Piper Sandler upped 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, Canaccord Genuity Group lifted their price target on shares of AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.44.

AtriCure Stock Performance

Shares of NASDAQ ATRC opened at $31.83 on Thursday. The company has a 50 day simple moving average of $37.97 and a two-hundred day simple moving average of $33.93. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -33.50 and a beta of 1.53. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11.

Insider Transactions at AtriCure

In related news, Director Karen Prange sold 6,100 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 17,828 shares of the company’s stock, valued at approximately $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.20% of the company’s stock.

Institutional Trading of AtriCure

Several large investors have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. boosted its position in shares of AtriCure by 1,184.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock valued at $49,000 after acquiring an additional 1,492 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in AtriCure in the fourth quarter valued at $60,000. Venturi Wealth Management LLC raised its holdings in 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 buying an additional 2,100 shares during the period. KBC Group NV raised its stake in shares of AtriCure by 65.3% in the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock valued at $72,000 after acquiring an additional 932 shares during the period. Finally, State of Wyoming lifted its holdings in shares of AtriCure by 21.9% in the 4th 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 last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.