Canaccord Genuity Group Lowers AtriCure (NASDAQ:ATRC) Price Target to $52.00

AtriCure (NASDAQ:ATRC) had its price objective reduced by Canaccord Genuity Group from $66.00 to $52.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the medical device company’s stock.

Several other research analysts have also recently commented on the stock. Oppenheimer raised their target price on shares of AtriCure from $36.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a research note on Monday, February 10th. BTIG Research reissued a “buy” rating on shares of AtriCure in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of AtriCure from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus upped their target price on AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.44.

AtriCure Trading Down 7.4 %

Shares of NASDAQ ATRC opened at $31.83 on Friday. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -33.50 and a beta of 1.53. The business has a fifty day simple moving average of $37.97 and a 200-day simple moving average of $33.93.

Insider Transactions at AtriCure

In related news, Director Karen Prange sold 6,100 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the completion of the sale, the director now directly owns 17,828 shares in the company, valued at approximately $679,603.36. The trade was a 25.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AtriCure

Institutional investors have recently modified their holdings of the company. Johnson Financial Group Inc. grew its stake in AtriCure by 1,184.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock valued at $49,000 after buying an additional 1,492 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in AtriCure during the fourth quarter valued at about $60,000. Venturi Wealth Management LLC grew its position in shares of AtriCure by 1,337.6% in the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock valued at $69,000 after purchasing an additional 2,100 shares during the last quarter. KBC Group NV increased its stake in shares of AtriCure by 65.3% in the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock worth $72,000 after purchasing an additional 932 shares during the period. Finally, State of Wyoming lifted its position 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 during the last quarter. 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.