Canaccord Genuity Group Cuts Acutus Medical (NASDAQ:AFIB) Price Target to $3.00

Acutus Medical (NASDAQ:AFIB) had its price objective lowered by Canaccord Genuity Group from $10.00 to $3.00 in a research note released on Friday, Analyst Price Targets reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts also recently issued reports on AFIB. Zacks Investment Research upgraded shares of Acutus Medical from a sell rating to a hold rating in a research report on Wednesday. BTIG Research reiterated a buy rating and set a $8.00 target price on shares of Acutus Medical in a research report on Monday, November 29th. cut their price objective on shares of Acutus Medical from $18.00 to $10.00 and set a buy rating for the company in a research report on Friday, November 12th. The Goldman Sachs Group began coverage on shares of Acutus Medical in a research note on Friday, October 22nd. They issued a neutral rating and a $10.00 target price on the stock. Finally, UBS Group cut shares of Acutus Medical from a buy rating to a hold rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Acutus Medical currently has an average rating of Hold and a consensus price target of $12.29.

AFIB opened at $2.66 on Friday. Acutus Medical has a twelve month low of $2.51 and a twelve month high of $29.95. The company has a current ratio of 8.57, a quick ratio of 7.75 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average is $3.71 and its two-hundred day moving average is $9.06.

Acutus Medical (NASDAQ:AFIB) last announced its earnings results on Thursday, November 11th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.02). The company had revenue of $4.60 million for the quarter, compared to the consensus estimate of $6.02 million. Acutus Medical had a negative return on equity of 107.24% and a negative net margin of 748.44%. During the same period in the previous year, the firm posted ($1.18) EPS. As a group, equities analysts expect that Acutus Medical will post -4 earnings per share for the current year.

In other news, Director James F. Hinrichs purchased 40,000 shares of the stock in a transaction dated Monday, November 15th. The shares were purchased at an average cost of $3.78 per share, with a total value of $151,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.40% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of AFIB. Royal Bank of Canada raised its position in Acutus Medical by 120.7% in the second quarter. Royal Bank of Canada now owns 3,743 shares of the company’s stock valued at $64,000 after purchasing an additional 2,047 shares during the period. Deutsche Bank AG increased its holdings in Acutus Medical by 24.1% during the 3rd quarter. Deutsche Bank AG now owns 11,358 shares of the company’s stock worth $100,000 after purchasing an additional 2,203 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Acutus Medical during the 3rd quarter worth about $105,000. S.A. Mason LLC purchased a new stake in Acutus Medical during the 3rd quarter worth about $126,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Acutus Medical during the 3rd quarter worth about $138,000. Institutional investors own 93.39% of the company’s stock.

Acutus Medical Company Profile

Acutus Medical, Inc, an arrhythmia management company, designs, manufactures, and markets a range of tools for catheter-based ablation procedures to treat various arrhythmias in the United States and internationally. Its product portfolio includes novel access sheaths, transseptal crossing tools, diagnostic and mapping catheters, conventional and contact force ablation catheters, and mapping and imaging consoles and accessories, as well as supporting algorithms and software programs.

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Analyst Recommendations for Acutus Medical (NASDAQ:AFIB)

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