Atricure (ATRC) Receives a Buy from Needham

In a report released today, Michael Matson from Needham reiterated a Buy rating on Atricure (ATRCResearch Report), with a price target of $39. The company’s shares closed yesterday at $32.18.

Matson said:

“We hosted investor meetings with Coast this week. The meetings were consistent with our positive thesis on ATRC: we think that underpenetrated markets, minimal to no competition, and new product launches should allow ATRC to sustain double-digit revenue growth and continue to “beat and raise” vs. conservative guidance/consensus estimates. We believe that the shares’ valuation remains attractive and see potential for the CONVERGE results to serve as a major catalyst in 2019 and we reiterate our Buy rating.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 11.0% and a 62.3% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

Currently, the analyst consensus on Atricure is a Strong Buy with an average price target of $38.67.

See today’s analyst top recommended stocks >>

Based on Atricure’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.24 million. In comparison, last year the company had a GAAP net loss of $7.25 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

AtriCure, Inc. engages provision of treatment of atrial fibrillation and left atrial appendage. It operates through the following geographical segments: United States, Europe, Asia, and Other International.

Leave a Reply

Your email address will not be published. Required fields are marked *