AtriCure, Inc. (NASDAQ:ATRC) Receives Consensus Recommendation of "Buy" from Analysts

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) has been given an average rating of "Buy" by the nine ratings firms that are presently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $49.44.

A number of brokerages have recently commented on ATRC. Canaccord Genuity Group lowered their price target on shares of AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a report on Friday, March 28th. Oppenheimer raised their target price on shares of AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. JMP Securities reissued a "market outperform" rating and issued a $60.00 target price on shares of AtriCure in a research report on Monday, February 10th. BTIG Research reissued a "buy" rating on shares of AtriCure in a research report on Thursday, March 27th. Finally, Stifel Nicolaus raised their target price on shares of AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th.

AtriCure Price Performance

NASDAQ:ATRC traded up $1.86 during mid-day trading on Friday, hitting $33.83. 30,348 shares of the company's stock traded hands, compared to its average volume of 653,268. The company has a market cap of $1.65 billion, a PE ratio of -35.61 and a beta of 1.65. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. The firm's 50 day simple moving average is $34.73 and its 200 day simple moving average is $34.48.

Insider Activity

In other AtriCure news, Director Karen Prange sold 6,100 shares of AtriCure stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now owns 17,828 shares in the company, valued at approximately $679,603.36. The trade was a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On AtriCure

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in shares of AtriCure by 1.8% in the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock worth $414,000 after buying an additional 265 shares during the last quarter. Invesco Ltd. increased its holdings in shares of AtriCure by 0.8% during the 4th quarter. Invesco Ltd. now owns 43,647 shares of the medical device company's stock valued at $1,334,000 after acquiring an additional 334 shares during the last quarter. Perkins Capital Management Inc. increased its holdings in shares of AtriCure by 1.3% during the 4th quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company's stock valued at $927,000 after acquiring an additional 400 shares during the last quarter. Truist Financial Corp increased its holdings in shares of AtriCure by 2.6% during the 4th quarter. Truist Financial Corp now owns 15,717 shares of the medical device company's stock valued at $480,000 after acquiring an additional 403 shares during the last quarter. Finally, State of Wyoming increased its holdings in shares of AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock valued at $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.

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.