Stifel Nicolaus Trims AtriCure (NASDAQ:ATRC) Target Price to $26.00

AtriCure (NASDAQ:ATRC) had its price objective reduced by investment analysts at Stifel Nicolaus from $30.00 to $26.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 19.76% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research note on Tuesday, April 23rd. Piper Sandler dropped their price target on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday. Needham & Company LLC lowered their price objective on AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Canaccord Genuity Group cut their price objective on AtriCure from $57.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, AtriCure currently has an average rating of “Moderate Buy” and an average price target of $41.63.

AtriCure Stock Performance

Shares of NASDAQ:ATRC traded down $0.29 during trading on Wednesday, hitting $21.71. 783,936 shares of the stock traded hands, compared to its average volume of 775,191. The company has a fifty day moving average price of $22.66 and a two-hundred day moving average price of $27.06. AtriCure has a 52-week low of $18.94 and a 52-week high of $57.77. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -29.77 and a beta of 1.44. The company has a quick ratio of 2.83, a current ratio of 4.00 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last released 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 net margin of 8.98% and a negative return on equity of 7.85%. The company had revenue of $116.27 million during the quarter, compared to analysts’ expectations of $116.24 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities analysts predict that AtriCure will post -0.75 EPS for the current year.

Insider Buying and Selling at AtriCure

In related news, insider Salvatore Privitera bought 5,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were acquired at an average cost of $22.25 per share, for a total transaction of $111,250.00. Following the acquisition, the insider now directly owns 103,290 shares in the company, valued at approximately $2,298,202.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On AtriCure

Several institutional investors and hedge funds have recently bought and sold shares of the company. State of New Jersey Common Pension Fund D increased its position in shares of AtriCure by 31.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 68,188 shares of the medical device company’s stock worth $2,434,000 after purchasing an additional 16,168 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in AtriCure by 165.8% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 123,540 shares of the medical device company’s stock valued at $4,409,000 after acquiring an additional 77,055 shares during the period. Bridger Management LLC acquired a new position in AtriCure in the 4th quarter valued at about $3,109,000. Wellington Management Group LLP increased its stake in AtriCure by 7.8% during the fourth quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock worth $47,448,000 after purchasing an additional 95,824 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in shares of AtriCure by 38.0% during the fourth quarter. Panagora Asset Management Inc. now owns 229,197 shares of the medical device company’s stock worth $8,180,000 after purchasing an additional 63,079 shares in the last quarter. 99.11% of the stock is currently 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.