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

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

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

AtriCure Stock Down 6.0 %

Shares of NASDAQ ATRC opened at $20.89 on Thursday. The firm’s fifty day moving average is $28.81 and its 200 day moving average is $33.09. AtriCure has a 52 week low of $20.19 and a 52 week 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 cap of $994.16 million, a price-to-earnings ratio of -26.11 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. AtriCure’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.23) EPS. On average, equities research analysts expect that AtriCure will post -0.75 earnings per share for the current year.

Insider Buying and Selling at AtriCure

In related news, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $24.09, for a total value of $36,135.00. Following the sale, the insider now owns 71,284 shares in the company, valued at approximately $1,717,231.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Karl S. Dahlquist sold 8,231 shares of AtriCure 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 approximately $1,974,065.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $24.09, for a total transaction of $36,135.00. Following the completion of the transaction, the insider now owns 71,284 shares in the company, valued at approximately $1,717,231.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,616 shares of company stock valued at $504,932. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. State of New Jersey Common Pension Fund D increased its position in shares of AtriCure by 31.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 68,188 shares of the medical device company’s stock valued at $2,434,000 after acquiring an additional 16,168 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in shares of AtriCure by 165.8% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 123,540 shares of the medical device company’s stock worth $4,409,000 after purchasing an additional 77,055 shares in the last quarter. CenterBook Partners LP bought a new position in shares of AtriCure during the third quarter valued at $770,000. Decheng Capital Management III Cayman LLC purchased a new stake in shares of AtriCure during the third quarter valued at $2,026,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of AtriCure by 127.9% during the third quarter. Envestnet Asset Management Inc. now owns 116,990 shares of the medical device company’s stock valued at $5,124,000 after buying an additional 65,653 shares during the last quarter. 99.11% of the stock is 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.