AtriCure (NASDAQ:ATRC) Price Target Lowered to $52.00 at Canaccord Genuity Group

AtriCure (NASDAQ:ATRC) had its price objective reduced by equities research analysts at Canaccord Genuity Group from $66.00 to $52.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 51.29% from the company’s current price.

ATRC has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 target price on shares of AtriCure in a report on Thursday. Stifel Nicolaus raised their price objective on AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on shares of AtriCure from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday. Piper Sandler raised their price target on shares of AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, BTIG Research reaffirmed a “buy” rating on shares of AtriCure in a research report on Thursday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, AtriCure presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

AtriCure Trading Up 2.2 %

ATRC opened at $34.37 on Friday. The stock has a market capitalization of $1.68 billion, a PE ratio of -36.18 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. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.11. The firm’s fifty day moving average price is $38.10 and its 200 day moving average price is $33.89.

Insider Activity at AtriCure

In other AtriCure news, Director Karen Prange sold 6,100 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now owns 17,828 shares of the company’s stock, valued at approximately $679,603.36. This represents a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

A number of institutional investors and hedge funds have recently modified their holdings of ATRC. Johnson Financial Group Inc. increased its stake in AtriCure by 1,184.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock worth $49,000 after purchasing an additional 1,492 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of AtriCure in the fourth quarter worth approximately $60,000. Venturi Wealth Management LLC raised 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 lifted its position 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 acquiring an additional 932 shares in the last quarter. Finally, State of Wyoming boosted its stake in 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 period. 99.11% of the stock is owned by institutional investors and hedge funds.

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.