Needham & Company LLC Reiterates “Buy” Rating for AtriCure (NASDAQ:ATRC)

AtriCure (NASDAQ:ATRC)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $45.00 target price on the medical device company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 37.83% from the stock’s current price.

ATRC has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, January 21st. Canaccord Genuity Group lifted their price objective on shares of AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Zacks Research raised shares of AtriCure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. downgraded AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Wednesday. Finally, Citigroup reissued a “market outperform” rating on shares of AtriCure in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

AtriCure Trading Up 2.7%

NASDAQ:ATRC opened at $32.65 on Thursday. The stock has a fifty day simple moving average of $39.03 and a 200 day simple moving average of $36.78. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -53.52 and a beta of 1.41. AtriCure has a 1-year low of $28.29 and a 1-year high of $43.18. The company has a quick ratio of 2.85, a current ratio of 3.87 and a debt-to-equity ratio of 0.15.

Insider Activity

In other news, Director Maggie Yuen sold 3,000 shares of AtriCure stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $35.72, for a total value of $107,160.00. Following the transaction, the director directly owned 11,371 shares in the company, valued at approximately $406,172.12. The trade was a 20.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Justin J. Noznesky sold 5,166 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $37.29, for a total value of $192,640.14. Following the transaction, the insider directly owned 78,798 shares of the company’s stock, valued at $2,938,377.42. This represents a 6.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 18,166 shares of company stock valued at $676,378. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On AtriCure

Hedge funds have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC bought a new stake in AtriCure in the 2nd quarter valued at $284,000. Nicholas Company Inc. boosted its position in shares of AtriCure by 8.5% during the 2nd quarter. Nicholas Company Inc. now owns 192,635 shares of the medical device company’s stock valued at $6,313,000 after acquiring an additional 15,135 shares in the last quarter. Squarepoint Ops LLC increased its stake in AtriCure by 64.7% in the second quarter. Squarepoint Ops LLC now owns 186,965 shares of the medical device company’s stock valued at $6,127,000 after acquiring an additional 73,468 shares during the period. Riverwater Partners LLC raised its position in AtriCure by 79.2% in the third quarter. Riverwater Partners LLC now owns 60,322 shares of the medical device company’s stock worth $2,126,000 after purchasing an additional 26,657 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in AtriCure by 1.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 755,537 shares of the medical device company’s stock worth $24,759,000 after purchasing an additional 7,731 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.