Needham & Company LLC Reaffirms "Buy" Rating for AtriCure (NASDAQ:ATRC)

AtriCure (NASDAQ:ATRC - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $51.00 price target on the medical device company's stock. Needham & Company LLC's price objective indicates a potential upside of 24.57% from the company's current price.

Several other equities analysts have also recently commented on the company. JMP Securities reiterated a "market outperform" rating and set a $60.00 target price on shares of AtriCure in a research note on Monday, February 10th. Oppenheimer raised their price objective on shares of AtriCure from $32.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of AtriCure from $40.00 to $51.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Canaccord Genuity Group increased their price target on shares of AtriCure from $53.00 to $61.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, UBS Group boosted their price objective on AtriCure from $35.00 to $40.00 and gave the company 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 stock. According to data from MarketBeat, AtriCure has an average rating of "Moderate Buy" and a consensus price target of $51.56.

AtriCure Stock Up 3.4 %

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in shares of AtriCure by 1.8% during the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock worth $414,000 after buying an additional 265 shares during the period. Invesco Ltd. boosted its position in AtriCure by 0.8% during the 4th quarter. Invesco Ltd. now owns 43,647 shares of the medical device company's stock worth $1,334,000 after acquiring an additional 334 shares during the period. Perkins Capital Management Inc. boosted its position in AtriCure by 1.3% during the 4th quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company's stock worth $927,000 after acquiring an additional 400 shares during the period. Truist Financial Corp grew its stake in shares of AtriCure by 2.6% in the fourth quarter. Truist Financial Corp now owns 15,717 shares of the medical device company's stock worth $480,000 after purchasing an additional 403 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of AtriCure by 0.9% during the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company's stock valued at $1,569,000 after purchasing an additional 484 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

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.