AtriCure (NASDAQ:ATRC) Stock Passes Above 200-Day Moving Average - Here's What Happened

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $33.37 and traded as high as $33.76. AtriCure shares last traded at $33.31, with a volume of 624,270 shares trading hands.

Analyst Ratings Changes

ATRC has been the subject of a number of recent analyst reports. JMP Securities reissued a "market outperform" rating and set a $60.00 target price on shares of AtriCure in a research note on Monday, February 10th. Canaccord Genuity Group boosted 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. Piper Sandler boosted their target price on shares of AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Oppenheimer boosted their target price on shares of AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Finally, Needham & Company LLC restated a "buy" rating and set a $51.00 price objective on shares of AtriCure in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, AtriCure currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.56.

AtriCure Trading Up 0.4 %

The business has a fifty day moving average price of $38.11 and a two-hundred day moving average price of $33.54. The firm has a market capitalization of $1.66 billion, a PE ratio of -35.72 and a beta of 1.53. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13.

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Insider Activity

In other news, Director Karen Prange sold 6,100 shares of AtriCure stock in a transaction dated Wednesday, March 5th. The stock was 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 owns 17,828 shares in the company, valued at approximately $679,603.36. This trade represents a 25.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On AtriCure

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Johnson Financial Group Inc. increased its position in AtriCure by 1,184.1% during the fourth 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 period. Heck Capital Advisors LLC acquired a new position in AtriCure during the fourth quarter worth approximately $60,000. Venturi Wealth Management LLC increased its position in AtriCure by 1,337.6% during the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock worth $69,000 after buying an additional 2,100 shares during the period. KBC Group NV increased its position in AtriCure by 65.3% during the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock worth $72,000 after buying an additional 932 shares during the period. Finally, State of Wyoming increased its position in 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 buying an additional 446 shares during the period. 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.