JPMorgan Chase & Co. Boosts AtriCure (NASDAQ:ATRC) Price Target to $48.00

AtriCure (NASDAQ:ATRC) had its price target lifted by JPMorgan Chase & Co. from $42.00 to $48.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 15.52% from the stock’s previous close.

ATRC has been the subject of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, October 8th. Canaccord Genuity Group boosted their price target on shares of AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of AtriCure in a research report on Thursday, October 30th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.44.

AtriCure Stock Up 1.2%

Shares of NASDAQ:ATRC traded up $0.51 during midday trading on Tuesday, reaching $41.55. The company had a trading volume of 75,679 shares, compared to its average volume of 552,988. The stock’s fifty day moving average price is $35.95 and its 200-day moving average price is $34.76. AtriCure has a one year low of $28.29 and a one year high of $43.11. The stock has a market capitalization of $2.07 billion, a P/E ratio of -68.11 and a beta of 1.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.85.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Wednesday, October 29th. The medical device company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.10. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.54%. The business had revenue of $134.27 million during the quarter, compared to analyst estimates of $131.25 million. During the same period in the previous year, the business posted ($0.17) EPS. The company’s quarterly revenue was up 15.8% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. Equities research analysts expect that AtriCure will post -0.6 earnings per share for the current fiscal year.

Insider Transactions at AtriCure

In related news, Director Maggie Yuen sold 3,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $35.72, for a total transaction of $107,160.00. Following the transaction, the director owned 11,371 shares of the company’s stock, valued at approximately $406,172.12. The trade was a 20.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sven Wehrwein sold 4,967 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $38.00, for a total transaction of $188,746.00. Following the completion of the sale, the director directly owned 34,374 shares of the company’s stock, valued at approximately $1,306,212. This trade represents a 12.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 18,166 shares of company stock worth $676,378. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE boosted its position in AtriCure by 98.1% in the first quarter. US Bancorp DE now owns 1,593 shares of the medical device company’s stock valued at $51,000 after buying an additional 789 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of AtriCure by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 4,714,371 shares of the medical device company’s stock valued at $152,086,000 after buying an additional 61,166 shares during the period. Invesco Ltd. raised its position in shares of AtriCure by 19.5% during the first quarter. Invesco Ltd. now owns 52,162 shares of the medical device company’s stock worth $1,683,000 after acquiring an additional 8,515 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of AtriCure by 16.0% during the first quarter. Russell Investments Group Ltd. now owns 181,719 shares of the medical device company’s stock worth $5,862,000 after acquiring an additional 25,070 shares during the last quarter. Finally, Cresset Asset Management LLC acquired a new position in shares of AtriCure during the first quarter valued at $365,000. 99.11% of the stock is owned by 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.