JPMorgan Chase & Co. Boosts AtriCure (NASDAQ:ATRC) Price Target to $48.00

AtriCure (NASDAQ:ATRC) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $42.00 to $48.00 in a research note issued to investors on Tuesday,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 17.62% from the company’s current price.

Other research analysts have also issued reports about the company. Citigroup reaffirmed a “market outperform” rating on shares of AtriCure in a research report on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group upped their price objective on shares of AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.44.

AtriCure Price Performance

Shares of ATRC opened at $40.81 on Tuesday. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -66.90 and a beta of 1.47. AtriCure has a twelve month low of $28.29 and a twelve month high of $43.11. The company has a quick ratio of 2.85, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $36.21 and a two-hundred day moving average of $34.85.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. AtriCure had a negative return on equity of 2.54% and a negative net margin of 5.55%.The business had revenue of $134.27 million for the quarter, compared to the consensus estimate of $131.25 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. The business’s quarterly revenue was up 15.8% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. As a group, analysts predict that AtriCure will post -0.6 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Maggie Yuen sold 3,000 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $35.72, for a total value of $107,160.00. Following the transaction, the director directly owned 11,371 shares of the company’s stock, valued at approximately $406,172.12. This represents a 20.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sven Wehrwein sold 5,033 shares of AtriCure stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $37.32, for a total value of $187,831.56. Following the sale, the director directly owned 34,374 shares of the company’s stock, valued at $1,282,837.68. This trade represents a 12.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 18,166 shares of company stock valued at $676,378. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Oberweis Asset Management Inc. purchased a new stake in AtriCure in the third quarter valued at $5,411,000. Voloridge Investment Management LLC lifted its holdings in shares of AtriCure by 1.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 273,749 shares of the medical device company’s stock valued at $9,650,000 after buying an additional 4,041 shares during the period. Verition Fund Management LLC lifted its holdings in shares of AtriCure by 126.8% in the 3rd quarter. Verition Fund Management LLC now owns 17,752 shares of the medical device company’s stock valued at $626,000 after buying an additional 9,924 shares during the period. Qube Research & Technologies Ltd boosted its stake in shares of AtriCure by 203.6% in the third quarter. Qube Research & Technologies Ltd now owns 94,729 shares of the medical device company’s stock worth $3,339,000 after buying an additional 63,531 shares during the last quarter. Finally, Focus Partners Wealth grew its holdings in AtriCure by 10.1% during the third quarter. Focus Partners Wealth now owns 19,880 shares of the medical device company’s stock worth $691,000 after acquiring an additional 1,824 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.