AtriCure (NASDAQ:ATRC) Earns Market Outperform Rating from JMP Securities

AtriCure (NASDAQ:ATRC - Get Free Report)'s stock had its "market outperform" rating reaffirmed by JMP Securities in a report released on Monday,Benzinga reports. They presently have a $60.00 price target on the medical device company's stock. JMP Securities' price objective indicates a potential upside of 50.23% from the stock's previous close.

Several other brokerages have also recently issued reports on ATRC. 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. UBS Group raised their price target on shares of AtriCure from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $40.00 price objective on shares of AtriCure in a research note on Tuesday, December 17th. Needham & Company LLC increased their target price on shares of AtriCure from $40.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Finally, Canaccord Genuity Group boosted their price target on AtriCure from $53.00 to $61.00 and gave the company a "buy" rating in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.56.

AtriCure Trading Down 5.7 %

Shares of NASDAQ ATRC traded down $2.42 during midday trading on Monday, reaching $39.94. The company had a trading volume of 803,271 shares, compared to its average volume of 589,559. The firm's fifty day moving average price is $35.52 and its 200-day moving average price is $31.17. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. AtriCure has a one year low of $18.94 and a one year high of $43.11. The stock has a market cap of $1.95 billion, a PE ratio of -47.74 and a beta of 1.46.

Hedge Funds Weigh In On AtriCure

Several hedge funds and other institutional investors have recently modified their holdings of ATRC. Arcadia Investment Management Corp MI purchased a new stake in AtriCure in the third quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in shares of AtriCure during the 4th quarter worth approximately $60,000. Venturi Wealth Management LLC raised its position in shares of AtriCure by 1,337.6% in the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock worth $69,000 after acquiring an additional 2,100 shares in the last quarter. KBC Group NV lifted its stake in shares of AtriCure by 65.3% in the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock valued at $72,000 after purchasing an additional 932 shares during the period. Finally, R Squared Ltd purchased a new position in shares of AtriCure in the 4th quarter valued at approximately $89,000. Hedge funds and other institutional investors 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.