AtriCure (NASDAQ:ATRC) Given New $40.00 Price Target at JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $30.00 to $40.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 10.25% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Piper Sandler reduced their price target on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. UBS Group upped their target price on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. BTIG Research cut their price target on AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus decreased their price objective on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Needham & Company LLC boosted their target price on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.22.

AtriCure Price Performance

AtriCure stock traded up $6.85 during mid-day trading on Wednesday, reaching $36.28. The company had a trading volume of 1,329,811 shares, compared to its average volume of 725,073. The stock’s 50-day simple moving average is $27.46 and its 200-day simple moving average is $24.30. The company has a market capitalization of $1.73 billion, a P/E ratio of -45.16 and a beta of 1.44. 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 has a 1 year low of $18.94 and a 1 year high of $43.00.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The company had revenue of $115.91 million for the quarter, compared to the consensus estimate of $112.23 million. During the same period in the previous year, the business earned ($0.20) earnings per share. AtriCure’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities analysts predict that AtriCure will post -0.77 EPS for the current year.

Insider Activity at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction 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 transaction, the director now owns 8,970 shares in the company, valued at $215,907.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On AtriCure

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of AtriCure by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock valued at $170,100,000 after acquiring an additional 76,146 shares during the period. Norden Group LLC purchased a new stake in shares of AtriCure in the first quarter worth about $440,000. Diversify Advisory Services LLC acquired a new stake in shares of AtriCure in the first quarter valued at about $258,000. GSA Capital Partners LLP raised its holdings in shares of AtriCure by 65.7% during the 1st quarter. GSA Capital Partners LLP now owns 35,813 shares of the medical device company’s stock valued at $1,089,000 after buying an additional 14,194 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in AtriCure by 17.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,462 shares of the medical device company’s stock worth $318,000 after acquiring an additional 1,562 shares in the last quarter. 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.