JPMorgan Chase & Co. Lowers AtriCure (NASDAQ:ATRC) Price Target to $46.00

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

ATRC has been the subject of a number of other research reports. Canaccord Genuity Group lifted their price objective on AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus increased their target price on shares of AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $51.00 price target on shares of AtriCure in a research note on Thursday. Oppenheimer increased their price objective on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of AtriCure in a report on Monday, February 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.44.

AtriCure Stock Performance

Shares of AtriCure stock opened at $31.83 on Thursday. The company has a quick ratio of 2.62, a current ratio of 3.65 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. The business has a fifty day simple moving average of $37.97 and a 200-day simple moving average of $33.93. The stock has a market cap of $1.56 billion, a PE ratio of -33.50 and a beta of 1.53.

Insider Buying and Selling

In related news, Director Karen Prange sold 6,100 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the sale, the director now owns 17,828 shares of the company’s stock, valued at $679,603.36. The trade was a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On AtriCure

Institutional investors have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. lifted its position in shares of AtriCure by 1,184.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock worth $49,000 after buying an additional 1,492 shares during the period. Heck Capital Advisors LLC acquired a new position in AtriCure during the fourth quarter worth $60,000. Venturi Wealth Management LLC lifted its holdings in shares of AtriCure by 1,337.6% during the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock valued at $69,000 after acquiring an additional 2,100 shares during the period. KBC Group NV boosted its stake 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 valued at $72,000 after purchasing an additional 932 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of AtriCure by 21.9% in the 4th 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 during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

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.