AtriCure (NASDAQ:ATRC) PT Lowered to $49.00 at Canaccord Genuity Group

AtriCure (NASDAQ:ATRC) had its price objective cut by Canaccord Genuity Group from $57.00 to $49.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the medical device company’s stock.

A number of other equities research analysts have also recently commented on ATRC. JPMorgan Chase & Co. reduced their target price on shares of AtriCure from $42.00 to $34.00 and set an overweight rating for the company in a research report on Thursday. UBS Group raised their target price on shares of AtriCure from $57.00 to $58.00 and gave the stock a buy rating in a research note on Friday, February 16th. Needham & Company LLC lowered their target price on AtriCure from $46.00 to $40.00 and set a buy rating on the stock in a report on Thursday. Stifel Nicolaus cut their price target on AtriCure from $50.00 to $42.00 and set a buy rating for the company in a report on Friday, February 16th. Finally, Oppenheimer raised AtriCure from a market perform rating to an outperform rating and set a $32.00 price objective on the stock in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $49.78.

AtriCure Price Performance

NASDAQ:ATRC traded down $1.33 during trading hours on Thursday, hitting $20.89. 961,862 shares of the stock were exchanged, compared to its average volume of 881,737. The firm’s fifty day moving average price is $28.81 and its 200 day moving average price is $33.13. AtriCure has a 52-week low of $20.19 and a 52-week high of $59.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.57 and a quick ratio of 2.66.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Wednesday, May 1st. The medical device company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). AtriCure had a negative return on equity of 7.82% and a negative net margin of 8.98%. The firm had revenue of $108.90 million for the quarter, compared to analysts’ expectations of $106.86 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities analysts expect that AtriCure will post -0.71 EPS for the current year.

Insider Buying and Selling at AtriCure

In related news, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total value of $36,135.00. Following the completion of the sale, the insider now owns 71,284 shares in the company, valued at $1,717,231.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total value of $36,135.00. Following the sale, the insider now directly owns 71,284 shares of the company’s stock, valued at approximately $1,717,231.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Karl S. Dahlquist sold 1,885 shares of AtriCure stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $32.16, for a total transaction of $60,621.60. Following the transaction, the insider now owns 50,954 shares of the company’s stock, valued at approximately $1,638,680.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,616 shares of company stock worth $504,932. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AtriCure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Capital Management LLC boosted its position in shares of AtriCure by 0.6% in the third quarter. Advisors Capital Management LLC now owns 57,223 shares of the medical device company’s stock worth $2,506,000 after acquiring an additional 357 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of AtriCure by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,839 shares of the medical device company’s stock valued at $519,000 after purchasing an additional 395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of AtriCure by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,237 shares of the medical device company’s stock valued at $758,000 after buying an additional 484 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of AtriCure by 31.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock worth $91,000 after buying an additional 497 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of AtriCure by 0.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 81,300 shares of the medical device company’s stock worth $3,561,000 after buying an additional 593 shares during the period. Hedge funds and other 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.