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 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.
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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.
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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.
