JPMorgan Chase & Co. Forecasts Strong Price Appreciation for AtriCure (NASDAQ:ATRC) Stock

AtriCure (NASDAQ:ATRC) had its target price lifted by JPMorgan Chase & Co. from $40.00 to $51.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the medical device company’s stock.

ATRC has been the topic of a number of other reports. Needham & Company LLC boosted their price objective on shares of AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research report on Monday. UBS Group boosted their price objective on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their target price 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. Finally, Canaccord Genuity Group boosted their target price on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.56.

AtriCure Stock Performance

Shares of ATRC opened at $39.59 on Tuesday. The company’s 50 day moving average price is $35.52 and its 200 day moving average price is $31.17. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.11. The company has a market capitalization of $1.93 billion, a PE ratio of -47.70 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.

Institutional Trading of AtriCure

Large investors have recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new stake in shares of AtriCure during the 3rd quarter worth $28,000. Heck Capital Advisors LLC bought a new stake in shares of AtriCure during the 4th quarter worth $60,000. Venturi Wealth Management LLC boosted its holdings 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 buying an additional 2,100 shares during the period. KBC Group NV boosted its holdings 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 buying an additional 932 shares during the period. Finally, R Squared Ltd bought a new stake in shares of AtriCure during the 4th quarter worth $89,000. 99.11% of the stock is owned by 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.