AtriCure (NASDAQ:ATRC) Price Target Lowered to $53.00 at BTIG Research

AtriCure (NASDAQ:ATRC) had its price target cut by stock analysts at BTIG Research from $58.00 to $53.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. BTIG Research’s price target points to a potential upside of 143.01% from the company’s current price.

Several other equities research analysts have also recently weighed in on ATRC. Needham & Company LLC decreased their price objective on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday. Stifel Nicolaus lowered their price target on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler cut their price objective on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group lowered their price objective on AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.44.

AtriCure Stock Down 0.9 %

ATRC stock traded down $0.19 during midday trading on Wednesday, reaching $21.81. The company had a trading volume of 1,223,441 shares, compared to its average volume of 778,558. The company has a market capitalization of $1.04 billion, a P/E ratio of -27.45 and a beta of 1.44. The company has a 50 day moving average of $22.66 and a two-hundred day moving average of $27.06. AtriCure has a 1 year low of $18.94 and a 1 year high of $57.77. The company has a current ratio of 4.00, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). The firm had revenue of $116.27 million during the quarter, compared to analysts’ expectations of $116.24 million. AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.85%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.12) EPS. On average, equities research analysts expect that AtriCure will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at AtriCure

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

Institutional Investors Weigh In On AtriCure

A number of large investors have recently made changes to their positions in ATRC. Mirae Asset Global Investments Co. Ltd. lifted its stake in AtriCure by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,237 shares of the medical device company’s stock worth $758,000 after acquiring an additional 484 shares during the period. WCM Investment Management LLC boosted its stake in shares of AtriCure by 7.7% during the 4th quarter. WCM Investment Management LLC now owns 221,416 shares of the medical device company’s stock valued at $8,133,000 after purchasing an additional 15,820 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of AtriCure by 14.7% during the fourth quarter. Mackenzie Financial Corp now owns 12,295 shares of the medical device company’s stock valued at $439,000 after buying an additional 1,575 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in AtriCure by 27.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,524 shares of the medical device company’s stock worth $447,000 after buying an additional 2,670 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its holdings in AtriCure by 165.8% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 123,540 shares of the medical device company’s stock worth $4,409,000 after buying an additional 77,055 shares during the period. 99.11% of the stock is currently owned by institutional investors.

About AtriCure

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.