AtriCure (NASDAQ:ATRC) Price Target Raised to $68.00

AtriCure (NASDAQ:ATRC) had its target price hoisted by Citizens Jmp from $52.00 to $68.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a market outperform rating on the medical device company’s stock.

Several other research firms also recently commented on ATRC. Weiss Ratings raised shares of AtriCure from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. UBS Group cut AtriCure from a “buy” rating to a “sell” rating in a report on Wednesday. Stifel Nicolaus set a $65.00 target price on AtriCure in a research report on Thursday, September 17th. Piper Sandler increased their price target on AtriCure from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Finally, Needham & Company LLC raised their price target on AtriCure from $45.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.70.

AtriCure Stock Performance

Shares of ATRC stock opened at $58.97 on Wednesday. The company has a quick ratio of 3.19, a current ratio of 4.22 and a debt-to-equity ratio of 0.14. AtriCure has a 52 week low of $25.36 and a 52 week high of $61.70. The firm has a market capitalization of $3.00 billion, a PE ratio of 257.83 and a beta of 1.24. The company has a 50 day moving average price of $54.17 and a 200-day moving average price of $39.24.

AtriCure (NASDAQ:ATRC) last posted its earnings results 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 company had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.80 million. During the same quarter in the prior year, the company earned ($0.13) earnings per share. As a group, equities research analysts expect that AtriCure will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Karl Dahlquist sold 9,370 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $48.89, for a total transaction of $458,099.30. Following the transaction, the insider directly owned 87,319 shares of the company’s stock, valued at approximately $4,269,025.91. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vinayak Doraiswamy sold 6,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $38.88, for a total value of $233,280.00. Following the transaction, the insider owned 86,511 shares in the company, valued at $3,363,547.68. The trade was a 6.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 74,868 shares of company stock worth $3,317,897. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On AtriCure

Several large investors have recently modified their holdings of ATRC. Harbor Investment Advisory LLC bought a new position in shares of AtriCure during the second quarter valued at approximately $40,000. Allworth Financial LP bought a new position in AtriCure in the second quarter worth approximately $43,000. Integrated Wealth Concepts LLC bought a new position in AtriCure in the second quarter worth approximately $46,000. Fifth Third Bancorp purchased a new stake in AtriCure during the first quarter worth $51,000. Finally, Global Retirement Partners LLC purchased a new stake in AtriCure during the second quarter worth $52,000. Institutional investors own 99.11% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.