AtriCure (NASDAQ:ATRC) Given New $62.00 Price Target at JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC) had its target price boosted by JPMorgan Chase & Co. from $36.00 to $62.00 in a research note issued to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the medical device company’s stock.

Several other analysts also recently weighed in on the company. BTIG Research boosted their target price on AtriCure from $63.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group downgraded AtriCure from a “buy” rating to a “sell” rating in a research note on Wednesday, October 21st. Zacks Research lowered AtriCure from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Weiss Ratings upgraded AtriCure from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Raymond James Financial set a $52.00 price objective on AtriCure in a report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.80.

AtriCure Price Performance

Shares of ATRC opened at $65.53 on Wednesday. AtriCure has a 1-year low of $25.36 and a 1-year high of $66.02. The stock has a market cap of $3.33 billion, a PE ratio of 147.34 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.22 and a quick ratio of 3.19. The firm has a fifty day moving average price of $56.36 and a 200 day moving average price of $38.52.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Tuesday, November 3rd. The medical device company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.23. The company had revenue of $154.45 million during the quarter, compared to the consensus estimate of $151.05 million. AtriCure had a net margin of 2.52% and a return on equity of 4.08%. As a group, sell-side analysts anticipate that AtriCure will post 0.29 EPS for the current year.

Insider Activity

In related news, insider Salvatore Privitera sold 4,519 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $60.00, for a total transaction of $271,140.00. Following the transaction, the insider owned 142,745 shares of the company’s stock, valued at $8,564,700. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karl S. Dahlquist sold 9,370 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $48.89, for a total value of $458,099.30. Following the completion of the transaction, the insider owned 87,319 shares in the company, valued at $4,269,025.91. This trade represents a 9.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 30,622 shares of company stock valued at $1,626,003. Insiders own 4.00% of the company’s stock.

Institutional Trading of AtriCure

A number of hedge funds have recently added to or reduced their stakes in the stock. Fulcrum Asset Management LLP acquired a new position in shares of AtriCure in the third quarter valued at approximately $92,000. Brighton Jones LLC purchased a new stake in shares of AtriCure during the third quarter worth approximately $279,000. Ethic Inc. purchased a new stake in shares of AtriCure during the third quarter worth approximately $203,000. Provenance Wealth Advisors LLC acquired a new stake in shares of AtriCure during the third quarter worth $217,000. Finally, Oregon Public Employees Retirement Fund purchased a new position in AtriCure in the 3rd quarter valued at $641,000. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure News Roundup

Here are the key news stories impacting AtriCure this week:

• Positive Sentiment: AtriCure reported third-quarter EPS of $0.17 and revenue of $154.45 million, topping analyst expectations of a loss per share and $151.05 million in revenue. The earnings beat helped prompt analysts to raise their forecasts. AtriCure beats Q3 earnings and revenue estimates
• Positive Sentiment: The company forecast 2026 revenue of $606 million to $610 million, versus a FactSet estimate of $606.2 million, and adjusted EBITDA of $91 million to $94 million. It also aims to complete BoxX-NoAF enrollment by year-end. AtriCure projects 2026 adjusted EBITDA and targets BoxX-NoAF enrollment completion
• Positive Sentiment: Several firms lifted their targets after the results: Canaccord raised its target to $67 and kept a Buy rating; Piper Sandler raised its target to $70 and reaffirmed Overweight; Needham also raised its target to $70 and maintained Buy. Analysts boost forecasts after better-than-expected Q3 results
• Neutral Sentiment: JPMorgan raised its target substantially, from $36 to $62, but retained a Neutral rating. Its new target is still below the current share price, signaling a more cautious view than the other target increases. JPMorgan analyst recommendations

About AtriCure

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.