AtriCure (NASDAQ:ATRC) PT Lowered to $40.00 at Piper Sandler

AtriCure (NASDAQ:ATRC) had its price target decreased by investment analysts at Piper Sandler from $65.00 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. Piper Sandler’s price objective points to a potential upside of 81.82% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity Group dropped their price objective on AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC lowered their price target on AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday. Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their target price on AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat, AtriCure currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.63.

AtriCure Price Performance

Shares of ATRC stock opened at $22.00 on Wednesday. AtriCure has a 1-year low of $18.94 and a 1-year high of $57.77. The stock’s 50-day moving average is $22.66 and its 200 day moving average is $27.06. The company has a market cap of $1.05 billion, a P/E ratio of -27.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.83.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.17). AtriCure had a negative return on equity of 7.85% and a negative net margin of 8.98%. The company had revenue of $116.27 million for the quarter, compared to the consensus estimate of $116.24 million. During the same quarter last year, the company earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. Research analysts predict that AtriCure will post -0.75 earnings per share for the current fiscal year.

Insider Activity at AtriCure

In related news, insider Salvatore Privitera purchased 5,000 shares of AtriCure stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average cost of $22.25 per share, for a total transaction of $111,250.00. Following the completion of the transaction, the insider now owns 103,290 shares in the company, valued at $2,298,202.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of AtriCure by 2.3% in the fourth 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 in the last quarter. WCM Investment Management LLC boosted its stake in shares of AtriCure by 7.7% in the fourth quarter. WCM Investment Management LLC now owns 221,416 shares of the medical device company’s stock worth $8,133,000 after acquiring an additional 15,820 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of AtriCure by 14.7% in the fourth quarter. Mackenzie Financial Corp now owns 12,295 shares of the medical device company’s stock worth $439,000 after acquiring an additional 1,575 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AtriCure by 27.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,524 shares of the medical device company’s stock worth $447,000 after acquiring an additional 2,670 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in shares of AtriCure by 165.8% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 123,540 shares of the medical device company’s stock worth $4,409,000 after acquiring an additional 77,055 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.