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

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

ATRC has been the topic of several other reports. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price target on shares of AtriCure in a research report on Monday. UBS Group increased their price target on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer raised their target price on 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 restated a “buy” rating and set a $51.00 target price on shares of AtriCure in a research report on Thursday. Finally, Canaccord Genuity Group raised their target price on AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

AtriCure Stock Performance

ATRC traded down $2.42 during midday trading on Thursday, hitting $39.95. 176,945 shares of the company were exchanged, compared to its average volume of 569,972. The company’s 50 day simple moving average is $35.39 and its 200 day simple moving average is $31.09. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -48.09 and a beta of 1.46. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Truist Financial Corp lifted its stake in AtriCure by 13.8% in the 2nd quarter. Truist Financial Corp now owns 15,184 shares of the medical device company’s stock worth $346,000 after purchasing an additional 1,842 shares in the last quarter. SG Americas Securities LLC purchased a new position in AtriCure in the 3rd quarter worth approximately $488,000. Creative Planning purchased a new position in AtriCure in the 3rd quarter worth approximately $321,000. nVerses Capital LLC lifted its stake in AtriCure by 733.3% in the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in AtriCure by 151.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock worth $6,425,000 after purchasing an additional 138,046 shares in the last quarter. 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.