AtriCure (NASDAQ:ATRC) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

AtriCure, Inc. (NASDAQ:ATRC) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $33.37 and traded as high as $33.76. AtriCure shares last traded at $33.31, with a volume of 624,270 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ATRC. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price target on shares of AtriCure in a research report on Monday, February 10th. Piper Sandler upped their price target on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped their price target on shares of AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Oppenheimer upped their price target on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus upped their price target 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. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.56.

AtriCure Stock Up 1.7 %

The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.63 billion, a P/E ratio of -35.06 and a beta of 1.53. The company has a 50 day simple moving average of $38.10 and a two-hundred day simple moving average of $33.43.

Insiders Place Their Bets

In other 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 transaction of $232,532.00. Following the completion of the transaction, the director now directly owns 17,828 shares in the company, valued at approximately $679,603.36. This represents a 25.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ATRC. Royce & Associates LP boosted its position in shares of AtriCure by 8.0% during the 3rd quarter. Royce & Associates LP now owns 64,785 shares of the medical device company’s stock valued at $1,817,000 after acquiring an additional 4,800 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of AtriCure during the 3rd quarter valued at approximately $880,000. Commerce Bank boosted its position in shares of AtriCure by 23.5% during the 3rd quarter. Commerce Bank now owns 11,470 shares of the medical device company’s stock valued at $322,000 after acquiring an additional 2,181 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of AtriCure by 39.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 185,819 shares of the medical device company’s stock valued at $5,210,000 after acquiring an additional 52,533 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of AtriCure by 31.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock valued at $14,038,000 after acquiring an additional 119,929 shares during the last quarter. 99.11% of the stock is currently owned by 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.