Canaccord Genuity Group Cuts AtriCure (NASDAQ:ATRC) Price Target to $52.00

AtriCure (NASDAQ:ATRC) had its price target decreased by Canaccord Genuity Group from $66.00 to $52.00 in a report issued on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical device company’s stock.

Several other equities research analysts also recently weighed in on ATRC. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price target on shares of AtriCure in a research report on Thursday. Piper Sandler raised 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. Oppenheimer boosted their price target on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research note on Monday, February 10th. Finally, Stifel Nicolaus lifted their target price on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.44.

AtriCure Stock Down 7.4 %

ATRC stock opened at $31.83 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The firm’s fifty day simple moving average is $37.97 and its 200-day simple moving average is $34.03. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11. The company has a market capitalization of $1.56 billion, a P/E ratio of -33.50 and a beta of 1.53.

Insiders Place Their Bets

In other AtriCure news, Director Karen Prange sold 6,100 shares of the business’s 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 sale, the director now directly owns 17,828 shares in the company, valued at approximately $679,603.36. The trade was a 25.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of AtriCure

Institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake in AtriCure by 4.9% in the 3rd quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock valued at $37,710,000 after purchasing an additional 63,002 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AtriCure by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after buying an additional 32,676 shares in the last quarter. Atom Investors LP acquired a new stake in shares of AtriCure in the third quarter valued at about $1,741,000. Silver Oak Securities Incorporated purchased a new position in shares of AtriCure in the fourth quarter worth about $220,000. Finally, Calamos Advisors LLC boosted its position in AtriCure by 27.9% during the fourth quarter. Calamos Advisors LLC now owns 110,671 shares of the medical device company’s stock worth $3,382,000 after acquiring an additional 24,147 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

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.