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

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

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Needham & Company LLC lowered their target price on shares of AtriCure from $46.00 to $40.00 and set a “buy” rating on the stock 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 for the company in a research report on Tuesday, April 23rd. StockNews.com lowered AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Finally, UBS Group lifted their price target on AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, AtriCure presently has an average rating of “Moderate Buy” and a consensus target price of $49.88.

AtriCure Stock Down 10.7 %

AtriCure stock traded down $2.65 during midday trading on Thursday, reaching $22.11. The stock had a trading volume of 1,367,370 shares, compared to its average volume of 692,382. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. AtriCure has a 12 month low of $20.19 and a 12 month high of $59.61. The company has a fifty day moving average price of $29.30 and a two-hundred day moving average price of $33.32. The company has a market capitalization of $1.07 billion, a P/E ratio of -33.20 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last issued 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 analysts’ expectations of $106.86 million. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the company earned ($0.23) earnings per share. As a group, equities analysts expect that AtriCure will post -0.71 EPS for the current fiscal year.

Insider Activity

In related news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction on Monday, April 1st. The shares were sold at an average price of $30.39, for a total value of $45,585.00. Following the sale, the insider now owns 72,784 shares in the company, valued at $2,211,905.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total value of $307,510.16. Following the completion of the transaction, the insider now owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $30.39, for a total transaction of $45,585.00. Following the sale, the insider now directly owns 72,784 shares in the company, valued at approximately $2,211,905.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,116 shares of company stock valued at $468,797. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AtriCure

A number of hedge funds and other institutional investors have recently made changes to their positions in ATRC. Diversify Advisory Services LLC purchased a new stake in AtriCure during the 1st quarter worth approximately $258,000. Norden Group LLC purchased a new stake in shares of AtriCure in the 1st quarter valued at approximately $440,000. WCM Investment Management LLC grew its holdings in shares of AtriCure by 0.6% in the first quarter. WCM Investment Management LLC now owns 222,843 shares of the medical device company’s stock valued at $6,779,000 after purchasing an additional 1,427 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in AtriCure by 71.6% in the first quarter. Assenagon Asset Management S.A. now owns 444,801 shares of the medical device company’s stock valued at $13,531,000 after purchasing an additional 185,632 shares during the period. Finally, Wesbanco Bank Inc. purchased a new stake in shares of AtriCure during the 1st quarter worth $472,000. 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.