Needham & Company LLC Has Lowered Expectations for AtriCure (NASDAQ:ATRC) Stock Price

AtriCure (NASDAQ:ATRC) had its target price lowered by equities researchers at Needham & Company LLC from $51.00 to $44.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Needham & Company LLC’s price objective points to a potential upside of 50.22% from the company’s current price.

Other analysts have also recently issued reports about the stock. Oppenheimer upped their price target on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Piper Sandler upped their target price on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. decreased their price target on AtriCure from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. JMP Securities restated a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research note on Monday, February 10th. Finally, Canaccord Genuity Group decreased their target price on AtriCure from $66.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.67.

AtriCure Stock Performance

NASDAQ:ATRC opened at $29.29 on Wednesday. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.11. The stock has a market cap of $1.45 billion, a P/E ratio of -30.83 and a beta of 1.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The firm has a 50-day moving average of $33.76 and a two-hundred day moving average of $34.67.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. AtriCure had a negative return on equity of 6.80% and a negative net margin of 9.61%. The firm had revenue of $123.62 million during the quarter, compared to analyst estimates of $122.92 million. During the same quarter last year, the firm earned ($0.28) EPS. AtriCure’s quarterly revenue was up 13.5% on a year-over-year basis. On average, research analysts expect that AtriCure will post -0.6 earnings per share for the current fiscal year.

Insider Activity at AtriCure

In other AtriCure news, Director Karen Prange sold 6,100 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the sale, the director now directly owns 17,828 shares in the company, valued at approximately $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.50% of the company’s stock.

Institutional Trading of AtriCure

Hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in AtriCure by 135.3% in the 1st quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company’s stock worth $47,000 after purchasing an additional 832 shares during the last quarter. Johnson Financial Group Inc. boosted its position in shares of AtriCure by 1,184.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock worth $49,000 after buying an additional 1,492 shares during the period. Heck Capital Advisors LLC bought a new position in AtriCure in the 4th quarter worth approximately $60,000. Venturi Wealth Management LLC increased its position in AtriCure by 1,337.6% in the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock valued at $69,000 after acquiring an additional 2,100 shares during the period. Finally, KBC Group NV boosted its position in AtriCure by 65.3% during the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock worth $72,000 after acquiring an additional 932 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.