AtriCure (NASDAQ:ATRC) Price Target Raised to $51.00 at JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC - Get Free Report) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $40.00 to $51.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the medical device company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 24.72% from the company's current price.

ATRC has been the topic of several other research reports. Needham & Company LLC lifted their price objective on shares of AtriCure from $40.00 to $51.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised their target price on shares of AtriCure from $53.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Oppenheimer raised their target price on shares of AtriCure from $32.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. JMP Securities restated a "market outperform" rating and set a $60.00 target price on shares of AtriCure in a report on Monday. Finally, UBS Group raised their target price on shares of AtriCure from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $51.56.

AtriCure Trading Up 3.3 %

AtriCure stock traded up $1.30 during midday trading on Tuesday, hitting $40.89. 327,200 shares of the stock were exchanged, compared to its average volume of 597,929. The company has a fifty day simple moving average of $35.52 and a two-hundred day simple moving average of $31.17. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.11. The stock has a market capitalization of $1.99 billion, a PE ratio of -49.07 and a beta of 1.46. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13.

Institutional Trading of AtriCure

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in shares of AtriCure by 1.8% in the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock valued at $414,000 after purchasing an additional 265 shares during the last quarter. Invesco Ltd. increased its holdings in AtriCure by 0.8% during the fourth quarter. Invesco Ltd. now owns 43,647 shares of the medical device company's stock worth $1,334,000 after buying an additional 334 shares during the last quarter. Perkins Capital Management Inc. increased its holdings in AtriCure by 1.3% during the fourth quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company's stock worth $927,000 after buying an additional 400 shares during the last quarter. Truist Financial Corp increased its holdings in AtriCure by 2.6% during the fourth quarter. Truist Financial Corp now owns 15,717 shares of the medical device company's stock worth $480,000 after buying an additional 403 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in AtriCure by 0.9% during the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company's stock worth $1,569,000 after buying an additional 484 shares during the last quarter. 99.11% of the stock is currently 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.