AtriCure (NASDAQ:ATRC) Given New $40.00 Price Target at Needham & Company LLC

AtriCure (NASDAQ:ATRC) had its target price decreased by Needham & Company LLC from $46.00 to $40.00 in a research report sent to investors on Thursday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the medical device company’s stock.

Other research analysts have also recently issued reports about the company. Stifel Nicolaus decreased their target price on AtriCure from $50.00 to $42.00 and set a buy rating for the company in a research note on Friday, February 16th. StockNews.com lowered AtriCure from a hold rating to a sell rating in a research report on Wednesday, March 27th. UBS Group increased their target price on AtriCure from $57.00 to $58.00 and gave the stock a buy rating in a research note on Friday, February 16th. Finally, Oppenheimer raised shares of AtriCure from a market perform rating to an outperform rating and set a $32.00 price target on the stock in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $49.78.

AtriCure Price Performance

Shares of ATRC stock traded down $1.33 on Thursday, reaching $20.89. The company had a trading volume of 961,862 shares, compared to its average volume of 881,737. The company has a 50-day moving average of $28.81 and a 200-day moving average of $33.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.66 and a current ratio of 3.57. AtriCure has a 12 month low of $20.19 and a 12 month high of $59.61.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $108.90 million during the quarter, compared to the consensus estimate of $106.86 million. AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.82%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.23) EPS. As a group, equities research analysts expect that AtriCure will post -0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total value of $36,135.00. Following the completion of the transaction, the insider now owns 71,284 shares of the company’s stock, valued at $1,717,231.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Karl S. Dahlquist sold 1,885 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $32.16, for a total transaction of $60,621.60. Following the sale, the insider now owns 50,954 shares in the company, valued at approximately $1,638,680.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total value of $36,135.00. Following the completion of the sale, the insider now directly owns 71,284 shares of the company’s stock, valued at approximately $1,717,231.56. The disclosure for this sale can be found here. Insiders sold a total of 14,616 shares of company stock valued at $504,932 in the last quarter. 3.20% of the stock is currently owned by insiders.

Institutional Trading of AtriCure

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RiverPark Advisors LLC bought a new position in shares of AtriCure in the 3rd quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its stake in AtriCure by 31.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock valued at $91,000 after purchasing an additional 497 shares during the last quarter. Quest Partners LLC bought a new position in AtriCure during the fourth quarter worth about $103,000. Virtu Financial LLC acquired a new position in AtriCure during the fourth quarter worth approximately $213,000. Finally, Victory Capital Management Inc. raised its stake in AtriCure by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock valued at $221,000 after buying an additional 1,155 shares during the period. 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.