In a report released today, Michael Matson from Needham maintained a Buy rating on Atricure (ATRC), with a price target of $39. The company’s shares opened today at $27.39.
According to TipRanks.com, Matson is a 5-star analyst with an average return of 12.0% and a 65.7% 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 Moderate Buy with an average price target of $37, implying a 35.1% upside from current levels. In a report issued on April 2, BTIG also upgraded the stock to Buy with a $35 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 $10.13 million.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ATRC in relation to earlier this year. Earlier this month, Mark Lanning, a Director at ATRC bought 10,000 shares for a total of $25,800.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
AtriCure, Inc. engages development, manufacture and sale of devices designed primarily for the surgical ablation of cardiac tissue, and systems for the exclusion of the left atrial appendage. Its products include radio Frequency (RF) ablation pacing and sensing, cryo, left atrial appendage management, soft tissue dissection, estech surgical instrumentation, and cart configuration. It operates through the following geographical segments: United States, Europe, Asia, Other International, and Total International. The company was founded by Michael D. Hooven on October 31, 2000 and is headquartered in West Chester, OH.