AtriCure (ATRC) – Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for AtriCure (NASDAQ: ATRC):

  • 8/5/2017 – AtriCure was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/30/2017 – AtriCure had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $25.00 price target on the stock.
  • 7/28/2017 – AtriCure had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $26.00 price target on the stock, up previously from $25.00. They wrote, “ATRC’s 2Q17 revenue, EBITDA, and EPS beat consensus and management raised its 2017 revenue guidance. Worldwide Open-Heart Ablation growth improved to 11% from 10% in 1Q17 and US Open-Heart Ablation growth improved to 14% from 12% in 1Q17. We think that the accelerating Open-Heart growth should help to reduce concerns that this business is in a permanent slowdown and we think this shows that the new guidelines for ablation in concomitant open-heart procedures are driving stronger growth in this business. ATRC shares remain at a large discount to peers (2017E EV/sales of 4.4x vs. small/mid-cap growth peers at a median of 7.1x) and we reiterate our Buy rating.””
  • 7/24/2017 – AtriCure was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/16/2017 – AtriCure had its “outperform” rating reaffirmed by analysts at Leerink Swann. They now have a $26.00 price target on the stock.

AtriCure, Inc. (NASDAQ ATRC) opened at 22.78 on Wednesday. The firm’s market capitalization is $782.13 million. AtriCure, Inc. has a 52 week low of $13.45 and a 52 week high of $25.18. The company has a 50-day moving average of $23.71 and a 200-day moving average of $20.27.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Thursday, July 27th. The medical device company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.05. The business had revenue of $45.23 million during the quarter, compared to analysts’ expectations of $44.15 million. AtriCure had a negative net margin of 19.56% and a negative return on equity of 19.56%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the company posted ($0.26) earnings per share. On average, equities analysts forecast that AtriCure, Inc. will post ($0.95) earnings per share for the current fiscal year.

In other AtriCure news, Director Elizabeth D. Krell sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $21.44, for a total value of $214,400.00. Following the completion of the sale, the director now directly owns 24,162 shares in the company, valued at $518,033.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.00% of the company’s stock.

AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.

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