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

AtriCure (NASDAQ:ATRC) had its price objective dropped by research 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 target price points to a potential upside of 33.08% from the stock’s previous close.

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

AtriCure Stock Performance

NASDAQ:ATRC traded up $0.95 on Thursday, reaching $34.57. 64,202 shares of the company’s stock were exchanged, compared to its average volume of 656,565. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -36.36 and a beta of 1.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The stock has a fifty day simple moving average of $38.17 and a 200-day simple moving average of $33.89. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.11.

Insider Buying and Selling

In other AtriCure news, Director Karen Prange sold 6,100 shares of AtriCure stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AtriCure

Institutional investors have recently modified their holdings of the stock. Commerce Bank increased its stake in AtriCure by 23.5% during the 3rd quarter. Commerce Bank now owns 11,470 shares of the medical device company’s stock valued at $322,000 after purchasing an additional 2,181 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of AtriCure during the third quarter valued at approximately $427,000. Charles Schwab Investment Management Inc. raised its holdings in AtriCure by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 394,584 shares of the medical device company’s stock worth $11,064,000 after acquiring an additional 5,812 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in AtriCure in the 3rd quarter valued at approximately $1,991,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in AtriCure by 38.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,053 shares of the medical device company’s stock valued at $394,000 after purchasing an additional 3,880 shares during the last quarter. 99.11% of the stock is 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.