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

AtriCure (NASDAQ:ATRC) had its price objective reduced by Canaccord Genuity Group from $66.00 to $52.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the medical device company’s stock.

Several other research firms have also recently weighed in on ATRC. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of AtriCure in a research note on Monday, February 10th. Piper Sandler increased their price objective on AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Oppenheimer raised their target price on AtriCure from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. decreased their price target on AtriCure from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, BTIG Research reiterated a “buy” rating on shares of AtriCure in a report on Thursday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

AtriCure Trading Down 7.4 %

Shares of ATRC opened at $31.83 on Friday. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.11. The firm has a market capitalization of $1.56 billion, a P/E ratio of -33.50 and a beta of 1.53. The firm has a 50-day moving average price of $37.97 and a 200 day moving average price of $34.03. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13.

Insider Activity at AtriCure

In other 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 value of $232,532.00. Following the completion of the transaction, the director now owns 17,828 shares of the company’s stock, valued at approximately $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Hedge funds have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. increased its position in shares of AtriCure by 1,184.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock worth $49,000 after acquiring an additional 1,492 shares during the period. Heck Capital Advisors LLC acquired a new position in AtriCure during the 4th quarter worth $60,000. Venturi Wealth Management LLC increased its holdings in AtriCure by 1,337.6% during the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock worth $69,000 after purchasing an additional 2,100 shares during the period. KBC Group NV raised its position in 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 purchasing an additional 932 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of AtriCure by 21.9% in the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock valued at $76,000 after buying an additional 446 shares during the period. 99.11% of the stock is currently 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.