AtriCure (NASDAQ:ATRC) Given New $40.00 Price Target at Needham & Company LLC

AtriCure (NASDAQ:ATRC) had its price target decreased by stock analysts at Needham & Company LLC from $46.00 to $40.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 61.55% from the company’s previous close.

A number of other research firms have also weighed in on ATRC. UBS Group lifted their target price on AtriCure from $57.00 to $58.00 and gave the company 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 report on Wednesday, March 27th. Oppenheimer upgraded shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus decreased their price target on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 16th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

AtriCure Price Performance

ATRC opened at $24.76 on Thursday. The firm has a 50-day moving average price of $29.30 and a 200-day moving average price of $33.32. AtriCure has a twelve month low of $22.07 and a twelve month high of $59.61. The company has a quick ratio of 2.66, a current ratio of 3.57 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -37.52 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Thursday, February 15th. The medical device company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The business had revenue of $106.50 million during the quarter, compared to analyst estimates of $103.68 million. During the same period in the previous year, the business earned ($0.09) EPS. AtriCure’s revenue was up 21.0% compared to the same quarter last year. Equities analysts expect that AtriCure will post -0.71 EPS for the current year.

Insider Transactions at AtriCure

In related news, insider Karl S. Dahlquist sold 8,231 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total value of $307,510.16. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Karl S. Dahlquist sold 1,885 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $32.16, for a total value of $60,621.60. Following the completion of the sale, the insider now owns 50,954 shares in the company, valued at approximately $1,638,680.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $307,510.16. Following the completion of the sale, the insider now directly owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,116 shares of company stock valued at $468,797. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

A number of hedge funds have recently made changes to their positions in the business. Advisors Capital Management LLC raised its position in AtriCure by 0.6% in the 3rd quarter. Advisors Capital Management LLC now owns 57,223 shares of the medical device company’s stock worth $2,506,000 after purchasing an additional 357 shares during the period. Principal Financial Group Inc. increased its holdings in shares of AtriCure by 3.5% in the third quarter. Principal Financial Group Inc. now owns 11,839 shares of the medical device company’s stock worth $519,000 after buying an additional 395 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of AtriCure by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,237 shares of the medical device company’s stock worth $758,000 after buying an additional 484 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of AtriCure by 31.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock valued at $91,000 after acquiring an additional 497 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in AtriCure by 0.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 81,300 shares of the medical device company’s stock valued at $3,561,000 after acquiring an additional 593 shares during the period. 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.