In a report released today, Michael Matson from Needham reiterated a Buy rating on Atricure, with a price target of $39. The company’s shares closed yesterday at $31.94.
“ATRC’s 4Q18 revenue was consistent with its preannouncement while its EBITDA missed consensus. Management maintained its 2019 revenue guidance and updated its adjusted EBITDA guidance. Gross margin expanded Y/Y by 200 bps while operating margin contracted Y/Y by 30 bps given investments in SG&A. We believe recent society guidelines, new products including the cryoSPHERE Probe, and surgeon training activities should drive strong growth and that CONVERGE could be a significant longer-term tailwind (management indicated that the data is unlikely to be made public until just before an FDA panel sometime in 2020) and we reiterate our Buy rating.”
According to TipRanks.com, Matson is a top 100 analyst with an average return of 13.6% and a 69.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
Atricure has an analyst consensus of Moderate Buy, with a price target consensus of $38.
NovoCure Ltd (NVCR)
Mizuho Securities analyst Difei Yang maintained a Buy rating on NovoCure Ltd today. The company’s shares closed yesterday at $53.71, close to its 52-week high of $54.73.
“We updated our model to account for the GBM opportunities in Sweden, where reimbursement was finalized last month and in China. We also raised 2019 revenue as we are more confident that NVCR can obtain Medicare reimbursement approval for GBM in 2019. Our PT goes to $63 from $51.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 18.1% and a 50.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
NovoCure Ltd has an analyst consensus of Moderate Buy.
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