Short Interest in AtriCure, Inc. (NASDAQ:ATRC) Declines By 20.4%

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,170,000 shares, a decrease of 20.4% from the January 15th total of 1,470,000 shares. Based on an average trading volume of 480,400 shares, the short-interest ratio is presently 2.4 days.

Analysts Set New Price Targets

A number of research firms have commented on ATRC. JMP Securities reaffirmed a "market outperform" rating and issued a $60.00 target price on shares of AtriCure in a research report on Monday, February 10th. Piper Sandler upped their price objective 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 upped their target price on shares of AtriCure from $61.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $51.00 target price on shares of AtriCure in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their price objective on AtriCure from $40.00 to $51.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.56.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ATRC. Arcadia Investment Management Corp MI purchased a new stake in AtriCure in the third quarter worth about $28,000. Johnson Financial Group Inc. increased its position in shares of AtriCure by 1,184.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock valued at $49,000 after acquiring an additional 1,492 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of AtriCure during the fourth quarter worth about $60,000. Venturi Wealth Management LLC boosted its position in AtriCure by 1,337.6% in the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock valued at $69,000 after buying an additional 2,100 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of AtriCure by 65.3% in the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock worth $72,000 after acquiring an additional 932 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

AtriCure Trading Up 2.1 %

ATRC traded up $0.81 during trading hours on Wednesday, reaching $39.03. 452,315 shares of the company's stock traded hands, compared to its average volume of 609,400. AtriCure has a 52-week low of $18.94 and a 52-week high of $43.11. The firm has a market capitalization of $1.90 billion, a PE ratio of -41.08 and a beta of 1.46. The firm has a 50-day moving average price of $36.10 and a 200 day moving average price of $31.80. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13.

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.