Piper Sandler Forecasts Strong Price Appreciation for AtriCure (NASDAQ:ATRC) Stock

AtriCure (NASDAQ:ATRC) had its price target boosted by stock analysts at Piper Sandler from $40.00 to $50.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. Piper Sandler’s target price suggests a potential upside of 26.86% from the stock’s previous close.

Several other brokerages have also recently commented on ATRC. UBS Group boosted their price target on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on shares of AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price target on shares of AtriCure in a report on Thursday. Oppenheimer boosted 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. Finally, JMP Securities reiterated a “market outperform” rating and set a $60.00 price target on shares of AtriCure in a report on Monday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, AtriCure has a consensus rating of “Moderate Buy” and an average price target of $50.56.

AtriCure Stock Performance

AtriCure stock traded down $2.95 on Thursday, hitting $39.42. The company’s stock had a trading volume of 393,488 shares, compared to its average volume of 576,912. AtriCure has a one year low of $18.94 and a one year high of $43.11. The firm has a market cap of $1.92 billion, a P/E ratio of -47.31 and a beta of 1.46. The company has a fifty day moving average price of $35.39 and a 200-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 institutional investors have recently bought and sold shares of ATRC. Arcadia Investment Management Corp MI acquired a new stake in shares of AtriCure in the third quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new stake in AtriCure during the fourth quarter worth approximately $60,000. Venturi Wealth Management LLC raised its holdings in shares of AtriCure by 1,337.6% in the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock valued at $69,000 after buying an additional 2,100 shares during the last quarter. KBC Group NV increased its holdings in AtriCure by 65.3% in 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 in the last quarter. Finally, R Squared Ltd acquired a new stake in AtriCure in the 4th quarter valued at about $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.