JPMorgan Chase & Co. Cuts AtriCure (NASDAQ:ATRC) Price Target to $30.00

AtriCure (NASDAQ:ATRC) had its price objective decreased by JPMorgan Chase & Co. from $34.00 to $30.00 in a research report released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical device company’s stock.

ATRC has been the topic of a number of other research reports. Stifel Nicolaus cut their price objective on shares of AtriCure from $30.00 to $26.00 and set a buy rating on the stock in a report on Wednesday. BTIG Research cut their price objective on shares of AtriCure from $58.00 to $53.00 and set a buy rating on the stock in a report on Wednesday. Canaccord Genuity Group cut their target price on shares of AtriCure from $57.00 to $49.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC cut their target price on shares of AtriCure from $40.00 to $34.00 and set a buy rating on the stock in a report on Wednesday. Finally, Piper Sandler lowered their price objective on shares of AtriCure from $65.00 to $40.00 and set an overweight rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $42.44.

AtriCure Trading Up 4.8 %

NASDAQ ATRC opened at $22.05 on Wednesday. The firm has a 50 day simple moving average of $22.59 and a 200-day simple moving average of $26.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 4.00. AtriCure has a one year low of $18.94 and a one year high of $57.56. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -27.56 and a beta of 1.44.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). The firm had revenue of $116.27 million for the quarter, compared to analysts’ expectations of $116.24 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) earnings per share. Equities research analysts anticipate that AtriCure will post -0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other AtriCure news, insider Salvatore Privitera acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average cost of $22.25 per share, for a total transaction of $111,250.00. Following the transaction, the insider now directly owns 103,290 shares of the company’s stock, valued at $2,298,202.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of AtriCure by 2.3% in the 4th 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 in the last quarter. ProShare Advisors LLC raised its stake in AtriCure by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock valued at $255,000 after purchasing an additional 659 shares during the last quarter. Comerica Bank raised its stake in AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares during the last quarter. Victory Capital Management Inc. raised its stake in AtriCure by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock valued at $221,000 after purchasing an additional 1,155 shares during the last quarter. Finally, Aigen Investment Management LP raised its stake in AtriCure by 24.0% in the 4th quarter. Aigen Investment Management LP now owns 7,136 shares of the medical device company’s stock valued at $255,000 after purchasing an additional 1,383 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other 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.