Canaccord Genuity Group Forecasts Strong Price Appreciation for AtriCure (NASDAQ:ATRC) Stock

AtriCure (NASDAQ:ATRC - Free Report) had its price target boosted by Canaccord Genuity Group from $61.00 to $66.00 in a research note released on Thursday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical device company's stock.

A number of other research firms have also weighed in on ATRC. Needham & Company LLC reissued a "buy" rating and issued a $51.00 price objective on shares of AtriCure in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of AtriCure from $40.00 to $51.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. JMP Securities restated a "market outperform" rating and set a $60.00 price objective on shares of AtriCure in a report on Monday, February 10th. Oppenheimer upped their target price on AtriCure from $32.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, UBS Group raised their price target on AtriCure from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.56.

AtriCure Price Performance

AtriCure stock traded up $1.35 during midday trading on Thursday, reaching $40.94. 577,628 shares of the company were exchanged, compared to its average volume of 590,066. The firm's 50-day simple moving average is $35.76 and its 200-day simple moving average is $31.50. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.11. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -49.33 and a beta of 1.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62.

Hedge Funds Weigh In On AtriCure

A number of large investors have recently modified their holdings of ATRC. Man Group plc purchased a new stake in shares of AtriCure during the 4th quarter worth about $745,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in AtriCure by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,916 shares of the medical device company's stock valued at $823,000 after buying an additional 1,013 shares in the last quarter. LMR Partners LLP purchased a new stake in AtriCure during the fourth quarter worth approximately $499,000. Graham Capital Management L.P. purchased a new position in shares of AtriCure in the 4th quarter valued at $649,000. Finally, Focus Partners Wealth acquired a new position in shares of AtriCure during the 4th quarter valued at $498,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.