AtriCure (NASDAQ:ATRC) Given New $66.00 Price Target at Canaccord Genuity Group

AtriCure (NASDAQ:ATRC) had its price target increased by analysts at Canaccord Genuity Group from $61.00 to $66.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 55.81% from the stock’s previous close.

Other analysts have also issued reports about the stock. Oppenheimer upped their price target on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $51.00 price target on shares of AtriCure in a report on Thursday. JMP Securities restated a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a research note on Monday. Finally, UBS Group raised their price objective on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

AtriCure Stock Up 2.0 %

ATRC stock opened at $42.36 on Thursday. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -51.04 and a beta of 1.46. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.11. The business has a 50 day moving average price of $35.39 and a two-hundred day moving average price of $31.09. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On AtriCure

A number of large investors have recently made changes to their positions in the company. Champlain Investment Partners LLC lifted its holdings in AtriCure by 4.3% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company’s stock worth $78,253,000 after purchasing an additional 115,813 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of AtriCure by 0.4% during the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock worth $43,291,000 after buying an additional 6,045 shares in the last quarter. State Street Corp lifted its holdings in shares of AtriCure by 4.9% during the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock worth $37,710,000 after buying an additional 63,002 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of AtriCure by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock valued at $32,326,000 after acquiring an additional 32,676 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of AtriCure by 14.6% in the third quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock valued at $18,621,000 after acquiring an additional 84,700 shares in the last quarter. 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.