JPMorgan Chase & Co. Has Lowered Expectations for AtriCure (NASDAQ:ATRC) Stock Price

AtriCure (NASDAQ:ATRC) had its price target decreased by analysts at JPMorgan Chase & Co. from $51.00 to $46.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 44.52% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Piper Sandler lifted their price target on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Canaccord Genuity Group increased their price objective on shares of AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 price target on shares of AtriCure in a report on Thursday. JMP Securities reissued a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research note on Monday, February 10th. Finally, Oppenheimer increased their target price on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.44.

AtriCure Stock Performance

Shares of ATRC stock opened at $31.83 on Thursday. The stock has a 50 day simple moving average of $37.97 and a 200-day simple moving average of $33.93. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -33.50 and a beta of 1.53. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.11.

Insider Transactions at AtriCure

In related news, Director Karen Prange sold 6,100 shares of AtriCure stock in a transaction on Wednesday, March 5th. The shares were 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 legal filing with the SEC, which can be accessed through this link. Insiders own 3.20% of the company’s stock.

Institutional Trading of AtriCure

Several large investors have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. lifted its stake in shares of AtriCure by 1,184.1% in 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 in the last quarter. Heck Capital Advisors LLC bought a new position in shares of AtriCure during the fourth quarter valued at approximately $60,000. Venturi Wealth Management LLC increased its position in 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 worth $69,000 after buying an additional 2,100 shares during the period. KBC Group NV increased its holdings in shares of AtriCure by 65.3% in the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock worth $72,000 after acquiring an additional 932 shares during the period. Finally, State of Wyoming grew its stake in shares of AtriCure by 21.9% in the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock worth $76,000 after purchasing an additional 446 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.