AtriCure (NASDAQ:ATRC) Given New $46.00 Price Target at JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC - Get Free Report) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $51.00 to $46.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the medical device company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 41.69% from the company's current price.

ATRC has been the topic of a number of other reports. Piper Sandler upped their price target on shares of AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Oppenheimer upped their target price on shares of AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Canaccord Genuity Group lifted their price target on shares of AtriCure from $61.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. JMP Securities reissued a "market outperform" rating and set a $60.00 price target on shares of AtriCure in a research note on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $51.00 price objective on shares of AtriCure in a research note on Thursday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $49.44.

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AtriCure Price Performance

ATRC stock traded up $0.64 on Thursday, reaching $32.47. 148,073 shares of the company's stock were exchanged, compared to its average volume of 673,228. The stock has a fifty day moving average of $37.97 and a 200-day moving average of $34.03. The firm has a market cap of $1.59 billion, a PE ratio of -34.05 and a beta of 1.53. 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 twelve month low of $18.94 and a twelve month high of $43.11.

Insider Activity

In related news, Director Karen Prange sold 6,100 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 17,828 shares in the company, valued at approximately $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On AtriCure

Several hedge funds have recently made changes to their positions in ATRC. Blue Trust Inc. lifted its holdings in shares of AtriCure by 1.8% during the 4th quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock worth $414,000 after acquiring an additional 265 shares during the period. Invesco Ltd. increased its position in AtriCure by 0.8% during the fourth quarter. Invesco Ltd. now owns 43,647 shares of the medical device company's stock worth $1,334,000 after purchasing an additional 334 shares during the last quarter. Perkins Capital Management Inc. boosted its holdings in shares of AtriCure by 1.3% in the 4th quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company's stock valued at $927,000 after purchasing an additional 400 shares during the last quarter. Truist Financial Corp grew its stake in shares of AtriCure by 2.6% during the 4th quarter. Truist Financial Corp now owns 15,717 shares of the medical device company's stock valued at $480,000 after buying an additional 403 shares during the period. Finally, State of Wyoming increased its holdings in shares of AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after buying an additional 446 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

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.