AtriCure (NASDAQ:ATRC) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of AtriCure (NASDAQ:ATRC) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $45.00 price objective on the medical device company’s stock.

ATRC has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday, January 21st. Canaccord Genuity Group raised their price target on AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Citigroup restated a “market outperform” rating on shares of AtriCure in a research report on Thursday, October 30th. JPMorgan Chase & Co. downgraded AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 target price for the company. in a research note on Wednesday. Finally, Zacks Research raised AtriCure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AtriCure presently has a consensus rating of “Moderate Buy” and an average target price of $52.83.

AtriCure Price Performance

Shares of ATRC opened at $31.80 on Thursday. The company has a quick ratio of 2.85, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $39.18 and a 200 day moving average of $36.78. AtriCure has a twelve month low of $28.29 and a twelve month high of $43.18. The company has a market capitalization of $1.58 billion, a P/E ratio of -52.13 and a beta of 1.41.

Insider Transactions at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,000 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $35.72, for a total transaction of $107,160.00. Following the transaction, the director owned 11,371 shares of the company’s stock, valued at $406,172.12. This represents a 20.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sven Wehrwein sold 5,033 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $37.32, for a total transaction of $187,831.56. Following the transaction, the director owned 34,374 shares in the company, valued at approximately $1,282,837.68. The trade was a 12.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,166 shares of company stock valued at $676,378 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Several large investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd boosted its stake in shares of AtriCure by 197.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after purchasing an additional 538 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of AtriCure by 1,818.6% during the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock valued at $40,000 after purchasing an additional 1,073 shares during the period. Geneos Wealth Management Inc. acquired a new stake in AtriCure in the second quarter worth approximately $37,000. First Horizon Corp acquired a new stake in AtriCure in the 3rd quarter valued at about $42,000. Finally, Global Retirement Partners LLC bought a new position in shares of AtriCure in the fourth quarter valued at $73,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.