AtriCure (NASDAQ:ATRC) Given New $40.00 Price Target at JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC) had its target price hoisted by JPMorgan Chase & Co. from $30.00 to $40.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical device company’s stock.

ATRC has been the topic of several other reports. Stifel Nicolaus cut their target price on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. UBS Group increased their price objective on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler cut their price objective on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, BTIG Research reduced their price objective on AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.11.

AtriCure Price Performance

Shares of AtriCure stock opened at $34.83 on Wednesday. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13. The firm’s 50-day simple moving average is $27.46 and its 200-day simple moving average is $24.30. The firm has a market cap of $1.66 billion, a P/E ratio of -43.54 and a beta of 1.44.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The business had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. During the same period in the previous year, the business posted ($0.20) earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, research analysts expect that AtriCure will post -0.77 EPS for the current fiscal year.

Insider Transactions at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the sale, the director now owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of AtriCure by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock worth $170,100,000 after acquiring an additional 76,146 shares during the last quarter. Norden Group LLC bought a new position in shares of AtriCure during the 1st quarter valued at about $440,000. Diversify Advisory Services LLC bought a new position in shares of AtriCure during the 1st quarter valued at about $258,000. GSA Capital Partners LLP increased its position in shares of AtriCure by 65.7% during the 1st quarter. GSA Capital Partners LLP now owns 35,813 shares of the medical device company’s stock valued at $1,089,000 after purchasing an additional 14,194 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in AtriCure by 17.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 10,462 shares of the medical device company’s stock worth $318,000 after buying an additional 1,562 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.