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

AtriCure (NASDAQ:ATRC) had its price target reduced by Stifel Nicolaus from $30.00 to $26.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the medical device company’s stock.

ATRC has been the topic of several other research reports. Piper Sandler lowered their target price on shares of AtriCure from $65.00 to $40.00 and set an overweight rating on the stock in a research note on Wednesday. Oppenheimer upgraded AtriCure from a market perform rating to an outperform rating and set a $32.00 price target for the company in a research note on Tuesday, April 23rd. Canaccord Genuity Group lowered their target price on AtriCure from $57.00 to $49.00 and set a buy rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price target on AtriCure from $42.00 to $34.00 and set an overweight rating for the company in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reduced their target price on AtriCure from $40.00 to $34.00 and set a buy rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, AtriCure currently has a consensus rating of Moderate Buy and an average price target of $42.44.

AtriCure Stock Up 4.8 %

Shares of AtriCure stock opened at $22.05 on Wednesday. The company has a current ratio of 4.00, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $22.59 and its two-hundred day simple moving average is $26.89. The company has a market cap of $1.05 billion, a P/E ratio of -27.56 and a beta of 1.44. AtriCure has a 12-month low of $18.94 and a 12-month high of $57.56.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). The firm had revenue of $116.27 million for the quarter, compared to analysts’ expectations of $116.24 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) EPS. Research analysts anticipate that AtriCure will post -0.75 EPS for the current year.

Insider Buying and Selling at AtriCure

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

Institutional Investors Weigh In On AtriCure

Several institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of AtriCure by 2.3% during 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 purchasing an additional 484 shares during the period. WCM Investment Management LLC lifted its holdings in shares of AtriCure by 7.7% during the fourth quarter. WCM Investment Management LLC now owns 221,416 shares of the medical device company’s stock worth $8,133,000 after purchasing an additional 15,820 shares during the period. Mackenzie Financial Corp lifted its holdings 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 worth $439,000 after purchasing an additional 1,575 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AtriCure by 27.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,524 shares of the medical device company’s stock worth $447,000 after purchasing an additional 2,670 shares during the period. Finally, Knights of Columbus Asset Advisors LLC lifted its holdings in shares of AtriCure by 165.8% during 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 purchasing an additional 77,055 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.