BTIG analyst Sean Lavin maintained a Hold rating on Atricure (ATRC) yesterday. The company’s shares opened today at $29.27.
Lavin commented:
“Neutral ATRC reported full Q4 results last week while we were hosting our annual Snowbird conference. Since the company pre-announced top-line results in early January, there were few surprises accompanying the formal Q4 print. On the call itself, the company highlighted several positive drivers including 1) continued outperformance in the AtriClip platform, 2) opportunities within a new pain management vertical, and 3) building society support with the recent STS endorsement of ablation courses being a constructive step. On the flip side, there were a few disappointing updates: 1) the lack of a public data release of CONVERGE until 2020, 2) substantially higher R&D and SG&A expenses than the Street modeled for FY19 and 3) some lumpiness in the China business (there were no orders in the quarter) though we expect the new distributor arrangement will add more consistency.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 11.0% and a 60.6% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Atricure with a $38 average price target.
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Based on Atricure’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $3.43 million. In comparison, last year the company had a GAAP net loss of $2.58 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.
