AtriCure, Inc. (NASDAQ:ATRC) Receives $43.38 Consensus Target Price from Analysts

AtriCure, Inc. (NASDAQ:ATRC) has been given an average recommendation of “Buy” by the eight analysts that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $43.38.

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

AtriCure Price Performance

ATRC stock opened at $41.00 on Monday. The business has a 50 day simple moving average of $35.19 and a 200-day simple moving average of $30.78. The company has a market capitalization of $2.00 billion, a P/E ratio of -49.40 and a beta of 1.46. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.11. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13.

Institutional Investors Weigh In On AtriCure

Hedge funds have recently modified their holdings of the company. Arcadia Investment Management Corp MI purchased a new position in shares of AtriCure during the third quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new position in AtriCure in the 4th quarter valued at $60,000. Venturi Wealth Management LLC lifted its stake 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 purchasing an additional 2,100 shares during the period. KBC Group NV lifted its stake 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 purchasing an additional 932 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of AtriCure during the fourth quarter worth $89,000. 99.11% of the stock is owned by institutional investors and hedge funds.

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.