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

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

Several other research firms have also commented on ATRC. Canaccord Genuity Group raised their price objective on shares of AtriCure from $61.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on shares of AtriCure from $40.00 to $51.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Oppenheimer upped their price objective on AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Stifel Nicolaus increased their price objective on AtriCure from $36.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Piper Sandler boosted their target price on AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.44.

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AtriCure Trading Up 2.0 %

Shares of ATRC stock traded up $0.64 on Thursday, hitting $32.47. The stock had a trading volume of 148,073 shares, compared to its average volume of 673,228. The company's 50 day moving average price is $37.97 and its 200-day moving average price is $34.03. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.11. The firm has a market capitalization of $1.59 billion, a P/E ratio of -34.05 and a beta of 1.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62.

Insiders Place Their Bets

In other news, Director Karen Prange sold 6,100 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the sale, the director now owns 17,828 shares of the company's stock, valued at approximately $679,603.36. This trade represents a 25.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On AtriCure

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. lifted its position in shares of AtriCure by 1,184.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock worth $49,000 after buying an additional 1,492 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in AtriCure in the fourth quarter valued at $60,000. Venturi Wealth Management LLC lifted 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 acquiring an additional 2,100 shares during the last quarter. KBC Group NV boosted its stake in AtriCure by 65.3% in the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock valued at $72,000 after acquiring an additional 932 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of AtriCure by 21.9% during the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after purchasing an additional 446 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

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.