Needham & Company LLC Reaffirms "Buy" Rating for AtriCure (NASDAQ:ATRC)

Needham & Company LLC reissued their buy rating on shares of AtriCure (NASDAQ:ATRC - Free Report) in a report released on Friday,Benzinga reports. Needham & Company LLC currently has a $51.00 price target on the medical device company's stock.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. increased their price target on AtriCure from $40.00 to $51.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Piper Sandler boosted their price objective on AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. JMP Securities restated a "market outperform" rating and issued a $60.00 price target on shares of AtriCure in a research note on Monday, February 10th. Oppenheimer boosted their price objective on shares of AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group lifted their price target on AtriCure from $61.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.56.

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AtriCure Price Performance

Shares of AtriCure stock traded up $1.15 during mid-day trading on Friday, reaching $34.69. 291,484 shares of the stock traded hands, compared to its average volume of 655,719. 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 business has a 50-day moving average of $38.22 and a 200 day moving average of $33.77. The stock has a market capitalization of $1.70 billion, a PE ratio of -36.52 and a beta of 1.53. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $43.11.

Insider Activity at AtriCure

In other AtriCure news, Director Karen Prange sold 6,100 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the completion of the transaction, the director now directly owns 17,828 shares of the company's stock, valued at $679,603.36. This represents a 25.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ATRC. Heck Capital Advisors LLC purchased a new stake in AtriCure during the 4th quarter worth approximately $60,000. Mackenzie Financial Corp acquired a new stake in AtriCure in the fourth quarter valued at $465,000. State of Wyoming boosted its stake in AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock valued at $76,000 after acquiring an additional 446 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in AtriCure during the 4th quarter worth $330,000. Finally, ProShare Advisors LLC grew its stake in AtriCure by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 13,330 shares of the medical device company's stock worth $407,000 after purchasing an additional 4,385 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

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.