Stifel Nicolaus Forecasts Strong Price Appreciation for AtriCure (NASDAQ:ATRC) Stock

AtriCure (NASDAQ:ATRC) had its target price boosted by research analysts at Stifel Nicolaus from $36.00 to $48.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ price target points to a potential upside of 20.17% from the company’s current price.

Several other analysts have also commented on ATRC. Oppenheimer lifted their price target on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price target on shares of AtriCure in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group lifted their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price target on shares of AtriCure in a research report on Monday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

AtriCure Trading Down 5.7 %

Shares of ATRC stock traded down $2.42 during trading on Thursday, hitting $39.95. 176,945 shares of the stock traded hands, compared to its average volume of 569,972. The firm has a market capitalization of $1.95 billion, a P/E ratio of -48.09 and a beta of 1.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The firm’s fifty day moving average price is $35.39 and its 200-day moving average price is $31.09. AtriCure has a 52-week low of $18.94 and a 52-week high of $43.11.

Hedge Funds Weigh In On AtriCure

Several institutional investors have recently modified their holdings of ATRC. Truist Financial Corp grew its stake in shares of AtriCure by 13.8% in the second quarter. Truist Financial Corp now owns 15,184 shares of the medical device company’s stock worth $346,000 after acquiring an additional 1,842 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of AtriCure in the third quarter worth $488,000. Creative Planning acquired a new position in shares of AtriCure in the third quarter worth $321,000. nVerses Capital LLC grew its stake in shares of AtriCure by 733.3% in the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after acquiring an additional 4,400 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of AtriCure by 151.6% in the third quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock worth $6,425,000 after acquiring an additional 138,046 shares in the last quarter. Institutional investors and hedge funds 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.