After Oppenheimer and Needham gave Atricure (NASDAQ: ATRC) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst William Plovanic maintained a Buy rating on Atricure today and set a price target of $53.00. The company’s shares closed last Thursday at $37.12.
According to TipRanks.com, Plovanic is a 3-star analyst with an average return of 2.1% and a 50.0% success rate. Plovanic covers the Healthcare sector, focusing on stocks such as Staar Surgical Company, Merit Medical Systems, and Edwards Lifesciences.
Atricure has an analyst consensus of Strong Buy, with a price target consensus of $53.50, implying a 44.5% upside from current levels. In a report released yesterday, BTIG also reiterated a Buy rating on the stock with a $56.00 price target.
See today’s analyst top recommended stocks >>
Based on Atricure’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $40.82 million and GAAP net loss of $8.24 million. In comparison, last year the company earned revenue of $58.91 million and had a GAAP net loss of $4.1 million.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ATRC in relation to earlier this year.
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.
