AtriCure (NASDAQ:ATRC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

AtriCure (NASDAQ:ATRC) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $30.00 to $40.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 20.55% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Stifel Nicolaus reduced their price objective on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Piper Sandler decreased their target price on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. UBS Group increased their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. Finally, BTIG Research decreased their price objective on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.11.

AtriCure Stock Down 4.7 %

Shares of AtriCure stock opened at $33.18 on Wednesday. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.00. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -39.98 and a beta of 1.44. The company has a 50-day moving average of $27.68 and a 200 day moving average of $24.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.93.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The business had revenue of $115.91 million during the quarter, compared to the consensus estimate of $112.23 million. During the same quarter last year, the firm earned ($0.20) earnings per share. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, sell-side analysts anticipate that AtriCure will post -0.77 earnings per share for the current fiscal year.

Insider Activity at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value of $84,245.00. Following the completion of the sale, the director now owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On AtriCure

A number of institutional investors and hedge funds have recently modified their holdings of ATRC. Arcadia Investment Management Corp MI purchased a new stake in AtriCure during the third quarter valued at $28,000. Comerica Bank grew its stake in shares of AtriCure by 70.5% during the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares during the period. nVerses Capital LLC increased its position in shares of AtriCure by 733.3% during the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after purchasing an additional 4,400 shares during the last quarter. Quest Partners LLC lifted its stake in shares of AtriCure by 38.3% in the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after purchasing an additional 1,626 shares during the period. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of AtriCure in the first quarter worth approximately $224,000. 99.11% of the stock is currently owned by hedge funds and other 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.