Atricure (ATRC) Gets a Buy Rating from Needham


In a report released today, Michael Matson from Needham reiterated a Buy rating on Atricure (ATRC), with a price target of $39. The company’s shares opened today at $31.22.

Matson commented:

“This morning, ATRC preannounced 4Q18 revenue that was above consensus, reiterated its 2018 EBITDA guidance of ($3)-($1), and provided initial 2019 revenue guidance that was above consensus at the mid-point. ATRC’s US sales beat our estimate while international missed our estimate. We expect ATRC’s Open-Heart Ablation business to continue to benefit from the STS and HRS Class 1 recommendations and for its Appendage Management business to continue to benefit from new products. And longer-term, we believe that favorable CONVERGE trial results could create a long-term tailwind for Ablation business. We think that ATRC shares benefited as it “beat-and-raised” in 2018 and we believe 2019 guidance means potential for additional upside and we reiterate our Buy rating.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 8.8% and a 55.2% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Atricure with a $38.67 average price target, representing a 23.9% upside. In a report released today, Piper Jaffray also reiterated a Buy rating on the stock with a $37 price target.

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The company has a one-year high of $36.49 and a one-year low of $14.88. Currently, Atricure has an average volume of 247.3K.

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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.

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