AtriCure (NASDAQ:ATRC - Get Free Report) had its price objective lowered by research analysts at Canaccord Genuity Group from $66.00 to $52.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the medical device company's stock. Canaccord Genuity Group's target price indicates a potential upside of 58.37% from the stock's previous close.
Other research analysts have also issued research reports about the company. Oppenheimer raised their price objective on AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Piper Sandler boosted their price target on shares of AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Stifel Nicolaus boosted their target price on AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. BTIG Research reaffirmed a "buy" rating on shares of AtriCure in a report on Thursday, March 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $51.00 price objective on shares of AtriCure in a research note on Thursday, March 27th. 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, AtriCure has a consensus rating of "Moderate Buy" and a consensus target price of $49.44.
View Our Latest Report on ATRC
AtriCure Price Performance
Shares of ATRC stock traded up $0.57 on Friday, reaching $32.83. 207,525 shares of the company were exchanged, compared to its average volume of 672,687. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. The business has a 50-day moving average price of $37.85 and a 200 day moving average price of $34.06. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -34.42 and a beta of 1.53.
Insider Transactions at AtriCure
In other AtriCure news, Director Karen Prange sold 6,100 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the sale, the director now owns 17,828 shares of the company's stock, valued at $679,603.36. The trade was a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.20% of the company's stock.
Institutional Investors Weigh In On AtriCure
A number of institutional investors have recently modified their holdings of ATRC. Hood River Capital Management LLC boosted its holdings in 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 valued at $89,349,000 after acquiring an additional 93,131 shares during the period. First Light Asset Management LLC lifted its position in shares of 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. Wellington Management Group LLP boosted its stake in shares of AtriCure by 0.4% in the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company's stock valued at $43,291,000 after purchasing an additional 6,045 shares during the period. State Street Corp grew its holdings in shares of 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in 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. 99.11% of the stock is owned by institutional investors and hedge funds.
About AtriCure
(
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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.
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