AtriCure (NASDAQ:ATRC) Given New $64.00 Price Target at Needham & Company LLC

AtriCure (NASDAQ:ATRC) had its price target increased by Needham & Company LLC from $45.00 to $64.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 30.83% from the company’s previous close.

A number of other brokerages have also recently weighed in on ATRC. Canaccord Genuity Group lifted their price objective on shares of AtriCure from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. UBS Group reduced their target price on shares of AtriCure from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Weiss Ratings raised shares of AtriCure from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Zacks Research downgraded shares of AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of AtriCure in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

AtriCure Price Performance

AtriCure stock opened at $48.92 on Wednesday. The company’s 50 day simple moving average is $38.70 and its 200-day simple moving average is $32.41. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 232.96 and a beta of 1.26. AtriCure has a 1 year low of $25.36 and a 1 year high of $49.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.19 and a current ratio of 4.22.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Thursday, July 23rd. The medical device company reported $0.18 earnings per share for the quarter. AtriCure had a return on equity of 2.34% and a net margin of 1.85%.The business had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $151.80 million. During the same period in the previous year, the firm posted ($0.13) earnings per share. AtriCure has set its FY 2026 guidance at 0.240-0.320 EPS. As a group, equities research analysts expect that AtriCure will post 0.29 earnings per share for the current year.

Insider Activity

In related news, insider Karl S. Dahlquist sold 9,370 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $48.89, for a total transaction of $458,099.30. Following the completion of the sale, the insider owned 87,319 shares in the company, valued at $4,269,025.91. The trade was a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Prange sold 3,564 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $38.80, for a total transaction of $138,283.20. Following the completion of the transaction, the director owned 22,809 shares in the company, valued at $884,989.20. This represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 53,616 shares of company stock valued at $2,149,994. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. acquired a new position in AtriCure in the second quarter valued at $37,000. Smartleaf Asset Management LLC increased its position in shares of AtriCure by 59.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock worth $46,000 after purchasing an additional 429 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of AtriCure during the second quarter worth about $40,000. Allworth Financial LP purchased a new stake in shares of AtriCure in the 2nd quarter valued at about $43,000. Finally, Fifth Third Bancorp purchased a new stake in shares of AtriCure in the 1st quarter valued at about $51,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.