AtriCure (NASDAQ:ATRC) Price Target Cut to $46.00 by Analysts at JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC) had its target price reduced by JPMorgan Chase & Co. from $51.00 to $46.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical device company’s stock.

ATRC has been the topic of a number of other research reports. Oppenheimer raised their price target on AtriCure from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Stifel Nicolaus upped their price target on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Canaccord Genuity Group raised their price objective on shares of AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Piper Sandler lifted their price objective on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $51.00 target price on shares of AtriCure in a research note on Thursday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, AtriCure currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

AtriCure Stock Performance

Shares of ATRC stock opened at $34.37 on Thursday. The stock’s 50-day moving average is $38.10 and its two-hundred day moving average is $33.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.11. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -36.18 and a beta of 1.53.

Insider Buying and Selling

In other AtriCure 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 transaction of $232,532.00. Following the transaction, the director now 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 SEC, which is accessible through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of AtriCure

Several hedge funds have recently modified their holdings of ATRC. Johnson Financial Group Inc. grew its holdings in AtriCure by 1,184.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock worth $49,000 after acquiring an additional 1,492 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of AtriCure during the 4th quarter worth $60,000. Venturi Wealth Management LLC lifted its stake 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 period. KBC Group NV boosted its holdings in AtriCure by 65.3% during the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock worth $72,000 after buying an additional 932 shares in the last quarter. Finally, State of Wyoming grew its position in AtriCure by 21.9% during the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock worth $76,000 after buying an additional 446 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

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.