AtriCure (NASDAQ:ATRC) PT Lowered to $34.00 at JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $42.00 to $34.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 53.78% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on ATRC. Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a report on Tuesday, April 23rd. Stifel Nicolaus cut their price objective on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, February 16th. UBS Group boosted their price objective on AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Needham & Company LLC lowered their target price on AtriCure from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, StockNews.com downgraded AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat, AtriCure has a consensus rating of “Moderate Buy” and a consensus target price of $49.88.

AtriCure Price Performance

ATRC traded down $2.65 during midday trading on Thursday, hitting $22.11. The company had a trading volume of 1,367,370 shares, compared to its average volume of 692,382. AtriCure has a twelve month low of $20.19 and a twelve month high of $59.61. The company has a market capitalization of $1.07 billion, a PE ratio of -33.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.66 and a current ratio of 3.57. The firm’s 50-day simple moving average is $29.30 and its 200-day simple moving average is $33.32.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Wednesday, May 1st. The medical device company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The firm had revenue of $108.90 million during the quarter, compared to analyst estimates of $106.86 million. During the same quarter in the previous year, the business earned ($0.23) earnings per share. AtriCure’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities research analysts predict that AtriCure will post -0.71 EPS for the current fiscal year.

Insider Transactions at AtriCure

In related news, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total transaction of $307,510.16. Following the transaction, the insider now directly owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other AtriCure news, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total transaction of $307,510.16. Following the transaction, the insider now owns 52,839 shares in the company, valued at $1,974,065.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total transaction of $55,080.00. Following the transaction, the insider now owns 74,284 shares of the company’s stock, valued at $2,727,708.48. The disclosure for this sale can be found here. Insiders sold a total of 13,116 shares of company stock worth $468,797 over the last three months. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ATRC. Advisors Capital Management LLC grew its position in shares of AtriCure by 0.6% during the 3rd quarter. Advisors Capital Management LLC now owns 57,223 shares of the medical device company’s stock valued at $2,506,000 after purchasing an additional 357 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of AtriCure by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,839 shares of the medical device company’s stock valued at $519,000 after buying an additional 395 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of AtriCure by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,237 shares of the medical device company’s stock worth $758,000 after acquiring an additional 484 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in AtriCure by 31.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock valued at $91,000 after purchasing an additional 497 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in shares of AtriCure by 0.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 81,300 shares of the medical device company’s stock worth $3,561,000 after purchasing an additional 593 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.