AtriCure (NASDAQ:ATRC) Shares Down 5.8% – What’s Next?

AtriCure, Inc. (NASDAQ:ATRC)’s stock price was down 5.8% during trading on Thursday . The stock traded as low as $38.84 and last traded at $39.92. Approximately 176,945 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 569,972 shares. The stock had previously closed at $42.36.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ATRC shares. JMP Securities reissued a “market outperform” rating and issued a $60.00 target price on shares of AtriCure in a report on Monday. Canaccord Genuity Group increased their target price on AtriCure from $61.00 to $66.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday. Oppenheimer upped their price objective on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Stifel Nicolaus upped their price objective on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.56.

AtriCure Stock Down 9.2 %

The company has a market cap of $1.87 billion, a price-to-earnings ratio of -46.33 and a beta of 1.46. The firm’s 50 day simple moving average is $35.52 and its 200-day simple moving average is $31.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59.

Institutional Investors Weigh In On AtriCure

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in shares of AtriCure by 1.8% during the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company’s stock worth $414,000 after buying an additional 265 shares during the period. Invesco Ltd. boosted its stake in shares of AtriCure by 0.8% during the fourth quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock worth $1,334,000 after buying an additional 334 shares during the period. Perkins Capital Management Inc. boosted its stake in shares of AtriCure by 1.3% during the fourth quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company’s stock worth $927,000 after buying an additional 400 shares during the period. Truist Financial Corp boosted its stake in shares of AtriCure by 2.6% during the fourth quarter. Truist Financial Corp now owns 15,717 shares of the medical device company’s stock worth $480,000 after buying an additional 403 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of AtriCure by 0.9% during the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock worth $1,569,000 after buying an additional 484 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.