AtriCure (NASDAQ:ATRC) Given New $34.00 Price Target at JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC) had its price objective decreased by JPMorgan Chase & Co. from $42.00 to $34.00 in a research report sent to investors on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical device company’s stock.

A number of other equities analysts have also recently weighed in on ATRC. StockNews.com cut shares of AtriCure from a hold rating to a sell rating in a research report on Wednesday, March 27th. Stifel Nicolaus dropped their price objective on AtriCure from $50.00 to $42.00 and set a buy rating for the company in a research note on Friday, February 16th. Oppenheimer raised AtriCure from a market perform rating to an outperform rating and set a $32.00 target price on the stock in a research note on Tuesday, April 23rd. UBS Group lifted their target price on AtriCure from $57.00 to $58.00 and gave the company a buy rating in a research report on Friday, February 16th. Finally, Needham & Company LLC decreased their price target on shares of AtriCure from $46.00 to $40.00 and set a buy rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $49.78.

AtriCure Trading Down 6.0 %

Shares of ATRC stock traded down $1.33 on Thursday, hitting $20.89. 961,862 shares of the stock traded hands, compared to its average volume of 881,737. 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 twelve month low of $20.19 and a twelve month high of $59.61. The firm’s 50-day moving average price is $28.81 and its two-hundred day moving average price is $33.13.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $106.86 million. AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.82%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the company earned ($0.23) EPS. As a group, sell-side analysts forecast that AtriCure will post -0.71 earnings per share for the current year.

Insider Transactions at AtriCure

In related news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total transaction of $55,080.00. Following the sale, the insider now directly owns 74,284 shares in the company, valued at approximately $2,727,708.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Karl S. Dahlquist sold 1,885 shares of AtriCure stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $32.16, for a total value of $60,621.60. Following the sale, the insider now owns 50,954 shares in the company, valued at approximately $1,638,680.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,616 shares of company stock worth $504,932. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AtriCure

Several large investors have recently modified their holdings of the company. RiverPark Advisors LLC acquired a new position in shares of AtriCure in the 3rd quarter valued at $27,000. Allspring Global Investments Holdings LLC boosted its stake in AtriCure by 31.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock worth $91,000 after purchasing an additional 497 shares during the period. Quest Partners LLC purchased a new position in AtriCure during the 4th quarter worth $103,000. Virtu Financial LLC acquired a new position in AtriCure in the fourth quarter valued at $213,000. Finally, Victory Capital Management Inc. raised its holdings in shares of AtriCure by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock valued at $221,000 after buying an additional 1,155 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

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.