AtriCure (NASDAQ:ATRC) Price Target Lowered to $26.00 at Stifel Nicolaus

AtriCure (NASDAQ:ATRC) had its price objective lowered by Stifel Nicolaus from $30.00 to $26.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 19.76% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Needham & Company LLC decreased their price target on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday. Canaccord Genuity Group lowered their target price on AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their price target on AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Piper Sandler lowered their price objective on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Oppenheimer raised shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, AtriCure currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.63.

AtriCure Stock Performance

AtriCure stock traded down $0.29 during mid-day trading on Wednesday, reaching $21.71. 783,936 shares of the company’s stock were exchanged, compared to its average volume of 775,191. The firm has a market capitalization of $1.03 billion, a PE ratio of -29.77 and a beta of 1.44. The company has a quick ratio of 2.83, a current ratio of 4.00 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $22.66 and its 200 day simple moving average is $27.06. AtriCure has a one year low of $18.94 and a one year high of $57.77.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). The company had revenue of $116.27 million for the quarter, compared to analysts’ expectations of $116.24 million. AtriCure had a negative return on equity of 7.85% and a negative net margin of 8.98%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.12) EPS. On average, sell-side analysts expect that AtriCure will post -0.75 earnings per share for the current year.

Insider Transactions at AtriCure

In other news, insider Salvatore Privitera bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average price of $22.25 per share, with a total value of $111,250.00. Following the acquisition, the insider now owns 103,290 shares of the company’s stock, valued at approximately $2,298,202.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Comerica Bank grew its position in AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after buying an additional 1,043 shares in the last quarter. Quest Partners LLC purchased a new stake in AtriCure in the fourth quarter worth approximately $103,000. Virtu Financial LLC purchased a new position in AtriCure in the 4th quarter worth $213,000. Victory Capital Management Inc. grew its stake in shares of AtriCure by 22.9% during the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock valued at $221,000 after buying an additional 1,155 shares during the last quarter. Finally, Aigen Investment Management LP increased its holdings in shares of AtriCure by 24.0% in the fourth quarter. Aigen Investment Management LP now owns 7,136 shares of the medical device company’s stock worth $255,000 after buying an additional 1,383 shares during the period. Institutional investors own 99.11% of the company’s stock.

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.