Piper Sandler Lowers AtriCure (NASDAQ:ATRC) Price Target to $55.00

AtriCure (NASDAQ:ATRCGet Rating) had its target price dropped by research analysts at Piper Sandler from $90.00 to $55.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. Piper Sandler’s target price suggests a potential upside of 12.47% from the stock’s current price.

Other research analysts have also issued research reports about the stock. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, July 30th. Stifel Nicolaus cut their target price on shares of AtriCure from $70.00 to $50.00 in a research report on Monday, July 18th. Needham & Company LLC upped their price objective on shares of AtriCure from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, BTIG Research cut their price objective on shares of AtriCure from $94.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, June 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, AtriCure currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.38.

AtriCure Trading Down 1.0 %

Shares of NASDAQ:ATRC opened at $48.90 on Wednesday. The stock has a market capitalization of $2.26 billion, a PE ratio of 42.16 and a beta of 1.20. The company has a current ratio of 4.21, a quick ratio of 3.35 and a debt-to-equity ratio of 0.15. AtriCure has a 1 year low of $32.83 and a 1 year high of $89.18. The firm has a fifty day moving average price of $42.34 and a 200 day moving average price of $53.32.

AtriCure (NASDAQ:ATRCGet Rating) last released its earnings results on Tuesday, August 2nd. The medical device company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). AtriCure had a negative return on equity of 11.34% and a net margin of 17.62%. During the same quarter last year, the business posted ($0.30) EPS. Analysts expect that AtriCure will post -1.07 EPS for the current fiscal year.

Insider Activity at AtriCure

In related news, insider Tonya Austin sold 3,203 shares of the company’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $42.69, for a total value of $136,736.07. Following the sale, the insider now owns 17,621 shares of the company’s stock, valued at $752,240.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by insiders.

Institutional Trading of AtriCure

Large investors have recently added to or reduced their stakes in the company. Laurel Wealth Advisors Inc. bought a new stake in AtriCure during the fourth quarter worth about $305,000. Buckingham Strategic Partners bought a new stake in shares of AtriCure during the fourth quarter valued at approximately $1,004,000. Envestnet Asset Management Inc. grew its stake in shares of AtriCure by 4.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 58,556 shares of the medical device company’s stock valued at $4,071,000 after purchasing an additional 2,630 shares during the last quarter. Congress Asset Management Co. MA bought a new stake in shares of AtriCure during the first quarter valued at approximately $3,705,000. Finally, Chartwell Investment Partners LLC grew its stake in shares of AtriCure by 4.4% during the first quarter. Chartwell Investment Partners LLC now owns 13,791 shares of the medical device company’s stock valued at $906,000 after purchasing an additional 576 shares during the last quarter. 95.36% of the stock is owned by institutional investors.

About AtriCure

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AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a 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 enable users to make longer linear lines of ablation.

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