AtriCure (NASDAQ:ATRC) Stock Rating Lowered by JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a $36.00 price target on the medical device company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 13.21% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Citigroup reissued a “market outperform” rating on shares of AtriCure in a report on Thursday, October 30th. Zacks Research upgraded shares of AtriCure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Canaccord Genuity Group raised their price objective on shares of AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.83.

AtriCure Stock Down 3.3%

Shares of NASDAQ ATRC opened at $31.80 on Wednesday. The stock has a market cap of $1.58 billion, a PE ratio of -52.13 and a beta of 1.41. The company has a quick ratio of 2.85, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. AtriCure has a 52-week low of $28.29 and a 52-week high of $43.18. The business has a 50-day moving average price of $39.18 and a 200 day moving average price of $36.78.

Insider Buying and Selling

In related news, insider Justin J. Noznesky sold 5,166 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $37.29, for a total value of $192,640.14. Following the completion of the sale, the insider owned 78,798 shares in the company, valued at $2,938,377.42. This trade represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maggie Yuen sold 3,000 shares of AtriCure stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $35.72, for a total value of $107,160.00. Following the completion of the sale, the director directly owned 11,371 shares in the company, valued at $406,172.12. This represents a 20.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,166 shares of company stock valued at $676,378 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd lifted its holdings in AtriCure by 197.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after acquiring an additional 538 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of AtriCure by 1,818.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock valued at $40,000 after purchasing an additional 1,073 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of AtriCure in the second quarter valued at about $37,000. First Horizon Corp acquired a new stake in shares of AtriCure in the third quarter valued at about $42,000. Finally, Global Retirement Partners LLC purchased a new stake in AtriCure during the fourth quarter worth about $73,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.