UBS Group Lowers AtriCure (NASDAQ:ATRC) Price Target to $58.00

AtriCure (NASDAQ:ATRC - Get Free Report) had its price target cut by research analysts at UBS Group from $60.00 to $58.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the medical device company's stock. UBS Group's target price suggests a potential upside of 99.52% from the stock's current price.

A number of other analysts also recently commented on ATRC. JPMorgan Chase & Co. reduced their price objective on AtriCure from $51.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Oppenheimer raised their target price on shares of AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Stifel Nicolaus lifted their price target on shares of AtriCure from $36.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Piper Sandler upped their target price on AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, 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 research note on Friday, March 28th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, AtriCure has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

AtriCure Stock Performance

Shares of NASDAQ:ATRC traded down $0.95 on Wednesday, hitting $29.07. The company's stock had a trading volume of 795,951 shares, compared to its average volume of 655,152. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -30.60 and a beta of 1.65. The stock's 50-day moving average is $33.57 and its two-hundred day moving average is $34.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65.

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

Insider Transactions at AtriCure

In related news, Director Karen Prange sold 6,100 shares of the stock in a transaction dated 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 directly owns 17,828 shares of the company's stock, valued at $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 available at this link. Company insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On AtriCure

Hedge funds have recently bought and sold shares of the company. Hood River Capital Management LLC grew its holdings in AtriCure by 3.3% during the fourth quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company's stock valued at $89,349,000 after purchasing an additional 93,131 shares during the period. First Light Asset Management LLC raised its position in shares of AtriCure by 5.6% in the 4th quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company's stock worth $60,179,000 after acquiring an additional 103,685 shares in the last quarter. Kennedy Capital Management LLC increased its position in shares of AtriCure by 29.8% during the fourth quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company's stock worth $22,999,000 after purchasing an additional 172,648 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in AtriCure by 24.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company's stock worth $21,398,000 after acquiring an additional 136,015 shares during the period. Finally, Marshall Wace LLP boosted its holdings in AtriCure by 37.1% in the fourth quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company's stock valued at $18,922,000 after purchasing an additional 167,476 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

About AtriCure

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.