Canaccord Genuity Group Trims AtriCure (NASDAQ:ATRC) Target Price to $49.00

AtriCure (NASDAQ:ATRC) had its target price decreased by Canaccord Genuity Group from $57.00 to $49.00 in a report published on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical device company’s stock.

Several other research analysts also recently commented on ATRC. Needham & Company LLC reduced their target price on AtriCure from $46.00 to $40.00 and set a buy rating on the stock in a report on Thursday. Stifel Nicolaus reduced their price objective on AtriCure from $50.00 to $42.00 and set a buy rating on the stock in a research note on Friday, February 16th. Oppenheimer upgraded AtriCure from a market perform rating to an outperform rating and set a $32.00 target price for the company in a research note on Tuesday, April 23rd. StockNews.com downgraded shares of AtriCure from a hold rating to a sell rating in a research report on Wednesday, March 27th. Finally, UBS Group raised their price objective on shares of AtriCure from $57.00 to $58.00 and gave the company a buy rating in a research report on Friday, February 16th. 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.com, the company presently has an average rating of Moderate Buy and a consensus price target of $49.78.

AtriCure Trading Down 6.0 %

Shares of ATRC opened at $20.89 on Thursday. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. The stock has a market cap of $994.16 million, a PE ratio of -26.11 and a beta of 1.41. AtriCure has a 1 year low of $20.19 and a 1 year high of $59.61. The stock has a 50 day simple moving average of $28.81 and a 200-day simple moving average of $33.09.

AtriCure (NASDAQ:ATRC) last issued 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). AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.82%. The company had revenue of $108.90 million for the quarter, compared to the consensus estimate of $106.86 million. During the same period in the previous year, the business posted ($0.23) earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. On average, sell-side analysts predict that AtriCure will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling at AtriCure

In related news, insider Karl S. Dahlquist sold 8,231 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the sale, the insider now directly owns 52,839 shares in the company, valued at approximately $1,974,065.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total value of $55,080.00. Following the completion of the transaction, the insider now directly owns 74,284 shares in the company, valued at approximately $2,727,708.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karl S. Dahlquist sold 8,231 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total transaction of $307,510.16. Following the sale, the insider now owns 52,839 shares in the company, valued at $1,974,065.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,616 shares of company stock worth $504,932. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in AtriCure during the third quarter worth $603,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AtriCure by 14.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,854 shares of the medical device company’s stock worth $432,000 after buying an additional 1,238 shares in the last quarter. Strs Ohio increased its position in AtriCure by 144.9% during the third quarter. Strs Ohio now owns 48,500 shares of the medical device company’s stock worth $2,124,000 after buying an additional 28,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of AtriCure by 2.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,753 shares of the medical device company’s stock valued at $909,000 after buying an additional 516 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of AtriCure by 18.1% during the 3rd quarter. Assetmark Inc. now owns 10,046 shares of the medical device company’s stock worth $440,000 after acquiring an additional 1,537 shares during the period. 99.11% of the stock is 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.