Citizens Jmp Lowers AtriCure (NASDAQ:ATRC) Price Target to $52.00

AtriCure (NASDAQ:ATRC) had its price target cut by equities researchers at Citizens Jmp from $60.00 to $52.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the medical device company’s stock. Citizens Jmp’s target price suggests a potential upside of 60.59% from the company’s current price.

A number of other analysts also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of AtriCure in a research report on Thursday, February 12th. Canaccord Genuity Group increased their target price on shares of AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Citigroup reaffirmed an “outperform” rating on shares of AtriCure in a research note on Wednesday. Zacks Research upgraded shares of AtriCure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Finally, Oppenheimer lowered shares of AtriCure from an “outperform” rating to a “market perform” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.43.

AtriCure Trading Up 0.4%

ATRC opened at $32.38 on Wednesday. The stock has a 50-day moving average of $38.41 and a 200 day moving average of $36.74. The company has a current ratio of 3.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.15. AtriCure has a 12 month low of $28.29 and a 12 month high of $43.18. The firm has a market cap of $1.61 billion, a P/E ratio of -134.92 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.10. The business had revenue of $140.50 million during the quarter, compared to analyst estimates of $140.50 million. AtriCure had a negative return on equity of 1.17% and a negative net margin of 2.14%.The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the company earned ($0.33) EPS. As a group, research analysts forecast that AtriCure will post -0.6 EPS for the current year.

Insider Activity at AtriCure

In other AtriCure news, Director Sven Wehrwein sold 4,967 shares of AtriCure stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $38.00, for a total value of $188,746.00. Following the transaction, the director owned 34,374 shares in the company, valued at $1,306,212. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin J. Noznesky sold 5,166 shares of AtriCure stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $37.29, for a total transaction of $192,640.14. Following the completion of the transaction, the insider directly owned 78,798 shares in the company, valued at approximately $2,938,377.42. The trade was a 6.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 15,166 shares of company stock valued at $569,218 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of AtriCure

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its stake in AtriCure by 1.0% during the 1st quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock worth $2,700,000 after buying an additional 837 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of AtriCure by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company’s stock valued at $908,000 after acquiring an additional 1,230 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of AtriCure by 1.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company’s stock valued at $27,830,000 after purchasing an additional 8,956 shares during the last quarter. Jane Street Group LLC boosted its stake in AtriCure by 658.3% in the 1st quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company’s stock worth $3,254,000 after purchasing an additional 87,553 shares in the last quarter. Finally, Strs Ohio purchased a new stake in AtriCure during the 1st quarter worth approximately $158,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.