JMP Securities Reaffirms “Market Outperform” Rating for AtriCure (NASDAQ:ATRC)

AtriCure (NASDAQ:ATRC)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a research note issued to investors on Monday,Benzinga reports. They presently have a $60.00 target price on the medical device company’s stock. JMP Securities’ price target would suggest a potential upside of 46.16% from the company’s current price.

A number of other brokerages have also issued reports on ATRC. 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. Oppenheimer raised their price target on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their target price on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $40.00 target price on shares of AtriCure in a research note on Tuesday, December 17th. Finally, Needham & Company LLC lifted their target price on shares of AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, AtriCure has an average rating of “Moderate Buy” and an average target price of $45.22.

AtriCure Trading Up 0.1 %

NASDAQ:ATRC traded up $0.05 during trading hours on Monday, reaching $41.05. The company’s stock had a trading volume of 23,416 shares, compared to its average volume of 570,645. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -49.38 and a beta of 1.46. The firm has a 50-day simple moving average of $35.19 and a 200-day simple moving average of $30.78. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI purchased a new position in shares of AtriCure during the third quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new position in shares of AtriCure during the fourth quarter valued at approximately $60,000. Venturi Wealth Management LLC raised its holdings in shares of 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 valued at $69,000 after purchasing an additional 2,100 shares during the last quarter. KBC Group NV grew 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 valued at $72,000 after buying an additional 932 shares during the period. Finally, R Squared Ltd bought a new stake in AtriCure during the fourth quarter valued at approximately $89,000. 99.11% of the stock is 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.