BTIG analyst Marie Thibault reiterated a Buy rating on Atricure (ATRC) yesterday and set a price target of $66.00. The company’s shares closed last Tuesday at $62.24, close to its 52-week high of $67.01.
According to TipRanks.com, Thibault is a top 100 analyst with an average return of 110.0% and a 74.4% success rate. Thibault covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings, Varian Medical Systems, and Irhythm Technologies.
Currently, the analyst consensus on Atricure is a Strong Buy with an average price target of $62.83, implying a -2.4% downside from current levels. In a report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $70.00 price target.
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Based on Atricure’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $54.76 million and GAAP net loss of $4.95 million. In comparison, last year the company earned revenue of $56.61 million and had a GAAP net loss of $9.36 million.
Based on the recent corporate insider activity of 42 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.
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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.
