After Needham and Piper Sandler gave Atricure (NASDAQ: ATRC) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Suraj Kalia assigned a Buy rating to Atricure today and set a price target of $45.00. The company’s shares closed last Friday at $43.03, close to its 52-week high of $44.51.
According to TipRanks.com, Kalia is a 4-star analyst with an average return of 3.2% and a 51.6% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Inspire Medical Systems, and Cardiovascular Systems.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Atricure with a $46.38 average price target, which is a 7.4% upside from current levels. In a report issued on April 29, BTIG also reiterated a Buy rating on the stock with a $45.00 price target.
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Based on Atricure’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $53.23 million and GAAP net loss of $16.41 million. In comparison, last year the company earned revenue of $53.97 million and had a GAAP net loss of $5.64 million.
Based on the recent corporate insider activity of 46 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. Last month, Mark Lanning, a Director at ATRC bought 10,000 shares for a total of $51,500.
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.
