Brokerages Set AtriCure, Inc. (NASDAQ:ATRC) Target Price at $43.38

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned a consensus rating of “Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued a report on the stock in the last year is $43.38.

A number of brokerages have recently weighed in on ATRC. UBS Group lifted their price objective on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC lifted their target price on AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Oppenheimer increased their price target on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their price objective on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $40.00 target price on shares of AtriCure in a research note on Tuesday, December 17th.

AtriCure Stock Up 0.1 %

AtriCure stock opened at $41.00 on Monday. The company has a market capitalization of $2.00 billion, a PE ratio of -49.40 and a beta of 1.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $43.11. The firm has a 50 day moving average price of $35.19 and a 200 day moving average price of $30.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI acquired a new position in shares of AtriCure during the third quarter worth $28,000. Heck Capital Advisors LLC acquired a new position in shares of AtriCure during the 4th quarter worth about $60,000. Venturi Wealth Management LLC boosted its position in shares of AtriCure by 1,337.6% during the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock worth $69,000 after acquiring an additional 2,100 shares in the last quarter. KBC Group NV raised its position in shares of AtriCure by 65.3% during 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 in the last quarter. Finally, R Squared Ltd purchased a new stake in AtriCure during the fourth quarter worth approximately $89,000. 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.