AtriCure (NASDAQ:ATRC) Lowered to Neutral Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of AtriCure (NASDAQ:ATRC) from an overweight rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage currently has $36.00 price target on the medical device company’s stock.

Several other research firms have also recently issued reports on ATRC. Citigroup reaffirmed a “market outperform” rating on shares of AtriCure in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday, January 21st. Zacks Research raised AtriCure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Finally, Canaccord Genuity Group raised their price objective on AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.11.

AtriCure Stock Down 3.5%

Shares of NASDAQ:ATRC traded down $1.14 during trading on Wednesday, hitting $31.76. The company’s stock had a trading volume of 74,150 shares, compared to its average volume of 575,794. The company has a market capitalization of $1.58 billion, a PE ratio of -52.14 and a beta of 1.41. AtriCure has a fifty-two week low of $28.29 and a fifty-two week high of $43.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.85 and a current ratio of 3.87. The stock’s 50-day moving average price is $39.33 and its two-hundred day moving average price is $36.82.

Insider Buying and Selling at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,000 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $35.72, for a total transaction of $107,160.00. Following the completion of the transaction, the director directly owned 11,371 shares of the company’s stock, valued at approximately $406,172.12. This trade represents a 20.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sven Wehrwein sold 5,033 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $37.32, for a total value of $187,831.56. Following the completion of the sale, the director directly owned 34,374 shares in the company, valued at $1,282,837.68. This represents a 12.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 18,166 shares of company stock valued at $676,378. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Swiss National Bank boosted its position in shares of AtriCure by 2.1% during the 4th quarter. Swiss National Bank now owns 98,000 shares of the medical device company’s stock valued at $3,877,000 after purchasing an additional 2,000 shares in the last quarter. Deutsche Bank AG raised its position in shares of AtriCure by 2.8% during the fourth quarter. Deutsche Bank AG now owns 45,926 shares of the medical device company’s stock worth $1,817,000 after purchasing an additional 1,260 shares during the period. GW&K Investment Management LLC lifted its stake in AtriCure by 10.6% during the fourth quarter. GW&K Investment Management LLC now owns 952,089 shares of the medical device company’s stock valued at $37,665,000 after buying an additional 91,054 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in AtriCure during the 4th quarter worth approximately $563,000. Finally, LPL Financial LLC raised its stake in AtriCure by 16.2% during the 4th quarter. LPL Financial LLC now owns 20,907 shares of the medical device company’s stock valued at $827,000 after purchasing an additional 2,921 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.