JPMorgan Chase & Co. Cuts AtriCure (NASDAQ:ATRC) Price Target to $46.00

AtriCure (NASDAQ:ATRC) had its price target cut by JPMorgan Chase & Co. from $51.00 to $46.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the medical device company’s stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price target on shares of AtriCure in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of AtriCure in a research report on Monday, February 10th. Piper Sandler raised their price objective on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Canaccord Genuity Group boosted their target price on shares of AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Oppenheimer lifted their price target on shares of AtriCure from $36.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.44.

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $31.83 on Thursday. The firm’s 50 day moving average is $37.97 and its two-hundred day moving average is $33.98. The firm has a market capitalization of $1.56 billion, a P/E ratio of -33.50 and a beta of 1.53. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.11.

Insider Transactions at AtriCure

In other AtriCure news, Director Karen Prange sold 6,100 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the sale, the director now directly owns 17,828 shares in the company, valued at approximately $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of AtriCure

A number of institutional investors have recently modified their holdings of ATRC. Blue Trust Inc. boosted its stake in shares of AtriCure by 1.8% during the 4th quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company’s stock worth $414,000 after buying an additional 265 shares during the last quarter. Invesco Ltd. boosted its position in AtriCure by 0.8% during the fourth quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock valued at $1,334,000 after purchasing an additional 334 shares during the last quarter. Perkins Capital Management Inc. grew its stake in AtriCure by 1.3% in the fourth quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company’s stock valued at $927,000 after purchasing an additional 400 shares in the last quarter. Truist Financial Corp increased its position in shares of AtriCure by 2.6% during the 4th quarter. Truist Financial Corp now owns 15,717 shares of the medical device company’s stock worth $480,000 after purchasing an additional 403 shares during the last quarter. Finally, State of Wyoming raised its stake in shares of AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock worth $76,000 after purchasing an additional 446 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.