AtriCure, Inc. (NASDAQ:ATRC) Given Average Recommendation of “Buy” by Brokerages

Shares of AtriCure, Inc. (NASDAQ:ATRC) have received a consensus recommendation of “Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $49.44.

A number of equities analysts have recently issued reports on the company. 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. Oppenheimer increased their price target on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Piper Sandler boosted their price target on AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Canaccord Genuity Group lowered their target price on shares of AtriCure from $66.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, BTIG Research restated a “buy” rating on shares of AtriCure in a research note on Thursday, March 27th.

Insider Buying and Selling at AtriCure

In related news, Director Karen Prange sold 6,100 shares of AtriCure 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 trade represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of AtriCure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATRC. Hood River Capital Management LLC boosted its stake in shares of AtriCure by 3.3% during the 4th quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company’s stock worth $89,349,000 after acquiring an additional 93,131 shares in the last quarter. First Light Asset Management LLC boosted its position in AtriCure by 5.6% during the fourth quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company’s stock worth $60,179,000 after purchasing an additional 103,685 shares in the last quarter. State Street Corp grew its holdings in AtriCure by 4.9% in the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock valued at $37,710,000 after purchasing an additional 63,002 shares during the period. Geode Capital Management LLC raised its stake in shares of AtriCure by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after buying an additional 32,676 shares during the period. Finally, Kennedy Capital Management LLC lifted its position in shares of AtriCure by 29.8% during the 4th quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company’s stock valued at $22,999,000 after buying an additional 172,648 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Trading Down 0.2 %

NASDAQ ATRC opened at $32.01 on Friday. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.11. The company has a 50 day moving average price of $35.10 and a 200 day moving average price of $34.37. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.56 billion, a PE ratio of -33.69 and a beta of 1.65.

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.