JMP Securities Reiterates Market Outperform Rating for AtriCure (NASDAQ:ATRC)

JMP Securities restated their market outperform rating on shares of AtriCure (NASDAQ:ATRC - Free Report) in a report released on Wednesday morning,Benzinga reports. The firm currently has a $60.00 price target on the medical device company's stock.

Several other equities analysts have also issued reports on ATRC. Canaccord Genuity Group reduced their target price on AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a report on Friday, March 28th. Oppenheimer raised their price objective on AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Needham & Company LLC dropped their price objective on AtriCure from $51.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Piper Sandler raised their price objective on AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lowered their price target on AtriCure from $51.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.

AtriCure Stock Down 3.2 %

ATRC traded down $0.95 during trading on Wednesday, reaching $29.07. 795,951 shares of the stock were exchanged, compared to its average volume of 655,152. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. The stock's 50 day moving average price is $33.57 and its two-hundred day moving average price is $34.77. The stock has a market cap of $1.44 billion, a P/E ratio of -30.60 and a beta of 1.65. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.11. The firm had revenue of $123.62 million during the quarter, compared to analysts' expectations of $122.92 million. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. The company's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) earnings per share. Equities analysts expect that AtriCure will post -0.6 EPS for the current year.

Insider Buying and Selling

In related news, Director Karen Prange sold 6,100 shares of AtriCure stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of the transaction, the director now directly 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. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ATRC. First Horizon Advisors Inc. boosted its holdings in AtriCure by 135.3% in the 1st quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock valued at $47,000 after purchasing an additional 832 shares during the last quarter. 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 purchasing an additional 1,492 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of AtriCure during the fourth quarter worth about $60,000. Venturi Wealth Management LLC boosted its holdings in AtriCure by 1,337.6% in the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock valued at $69,000 after purchasing an additional 2,100 shares in the last quarter. Finally, KBC Group NV increased its holdings 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 purchasing an additional 932 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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.