Acutus Medical (NASDAQ:AFIB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Acutus Medical (NASDAQ:AFIB) from a sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Acutus Medical Inc. is an arrhythmia management company. It focused on the way cardiac arrhythmias are diagnosed and treated. Acutus Medical Inc. is based in Carlsbad, California. “

Other analysts have also issued reports about the company. decreased their target price on Acutus Medical from $18.00 to $10.00 and set a buy rating for the company in a research report on Friday, November 12th. JPMorgan Chase & Co. lowered Acutus Medical from a neutral rating to an underweight rating in a report on Friday, November 12th. BTIG Research reissued a buy rating and set a $8.00 price objective on shares of Acutus Medical in a report on Monday, November 29th. Finally, The Goldman Sachs Group began coverage on Acutus Medical in a report on Friday, October 22nd. They set a neutral rating and a $10.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Acutus Medical presently has a consensus rating of Hold and an average price target of $12.29.

Shares of Acutus Medical stock opened at $2.66 on Wednesday. Acutus Medical has a one year low of $2.51 and a one year high of $29.95. The firm has a market capitalization of $74.35 million, a price-to-earnings ratio of -0.66 and a beta of 2.58. The business has a 50-day simple moving average of $3.71 and a 200 day simple moving average of $9.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.57 and a quick ratio of 7.75.

Acutus Medical (NASDAQ:AFIB) last issued its earnings results on Thursday, November 11th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.02). Acutus Medical had a negative net margin of 748.44% and a negative return on equity of 107.24%. The firm had revenue of $4.60 million during the quarter, compared to the consensus estimate of $6.02 million. During the same period in the previous year, the firm earned ($1.18) earnings per share. On average, sell-side analysts expect that Acutus Medical will post -4 EPS for the current year.

In other Acutus Medical news, Director James F. Hinrichs bought 40,000 shares of the business’s stock in a transaction dated Monday, November 15th. The shares were purchased at an average price of $3.78 per share, for a total transaction of $151,200.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 24.40% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in shares of Acutus Medical by 120.7% in the second quarter. Royal Bank of Canada now owns 3,743 shares of the company’s stock worth $64,000 after purchasing an additional 2,047 shares during the period. Rhumbline Advisers bought a new position in Acutus Medical in the second quarter valued at $176,000. Deutsche Bank AG boosted its position in Acutus Medical by 24.1% during the third quarter. Deutsche Bank AG now owns 11,358 shares of the company’s stock valued at $100,000 after buying an additional 2,203 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Acutus Medical during the third quarter valued at about $105,000. Finally, Tudor Investment Corp Et Al purchased a new stake in shares of Acutus Medical during the second quarter worth about $227,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

About Acutus Medical

Acutus Medical, Inc, an arrhythmia management company, designs, manufactures, and markets a range of tools for catheter-based ablation procedures to treat various arrhythmias in the United States and internationally. Its product portfolio includes novel access sheaths, transseptal crossing tools, diagnostic and mapping catheters, conventional and contact force ablation catheters, and mapping and imaging consoles and accessories, as well as supporting algorithms and software programs.

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