AtriCure (NASDAQ:ATRC) Price Target Cut to $34.00

AtriCure (NASDAQ:ATRC) had its price target decreased by research analysts at JPMorgan Chase & Co. from $42.00 to $34.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 62.76% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Needham & Company LLC decreased their price objective on AtriCure from $46.00 to $40.00 and set a “buy” rating for the company in a report on Thursday. Oppenheimer upgraded shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a report on Tuesday, April 23rd. UBS Group increased their target price on shares of AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 16th. StockNews.com lowered shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Finally, Stifel Nicolaus reduced their price objective on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat, AtriCure presently has an average rating of “Moderate Buy” and a consensus price target of $49.78.

AtriCure Stock Performance

Shares of AtriCure stock traded down $1.33 on Thursday, hitting $20.89. The company had a trading volume of 961,862 shares, compared to its average volume of 881,737. The stock has a 50-day moving average of $28.81 and a 200-day moving average of $33.13. The company has a quick ratio of 2.66, a current ratio of 3.57 and a debt-to-equity ratio of 0.15. AtriCure has a twelve month low of $20.19 and a twelve month high of $59.61.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Wednesday, May 1st. The medical device company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $108.90 million during the quarter, compared to the consensus estimate of $106.86 million. AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.82%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.23) earnings per share. On average, equities research analysts anticipate that AtriCure will post -0.71 EPS for the current fiscal year.

Insider Activity

In other news, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total value of $55,080.00. Following the sale, the insider now directly owns 74,284 shares of the company’s stock, valued at approximately $2,727,708.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AtriCure news, insider Karl S. Dahlquist sold 1,885 shares of AtriCure stock in a transaction on Monday, March 18th. The shares were sold at an average price of $32.16, for a total transaction of $60,621.60. Following the completion of the transaction, the insider now directly owns 50,954 shares of the company’s stock, valued at $1,638,680.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the transaction, the insider now owns 74,284 shares in the company, valued at $2,727,708.48. The disclosure for this sale can be found here. Insiders sold a total of 14,616 shares of company stock valued at $504,932 in the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Trading of AtriCure

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of AtriCure during the third quarter worth approximately $603,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in AtriCure by 14.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,854 shares of the medical device company’s stock valued at $432,000 after buying an additional 1,238 shares in the last quarter. Strs Ohio increased its position in AtriCure by 144.9% during the 3rd quarter. Strs Ohio now owns 48,500 shares of the medical device company’s stock worth $2,124,000 after buying an additional 28,700 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of AtriCure by 2.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,753 shares of the medical device company’s stock worth $909,000 after buying an additional 516 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of AtriCure by 18.1% in the third quarter. Assetmark Inc. now owns 10,046 shares of the medical device company’s stock valued at $440,000 after acquiring an additional 1,537 shares during the period. Institutional investors own 99.11% of the company’s stock.

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.