Atricure (ATRC – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Michael Matson from Needham remains neutral on the stock and has a $44.00 price target.
Michael Matson has given his Buy rating due to a combination of factors that indicate a strong financial performance and positive future outlook for Atricure. The company’s preannouncement of fourth quarter revenue surpassing consensus estimates, with a significant year-over-year increase, reflects robust growth, particularly in the U.S. and international markets. This outperformance is attributed to the success of their Hybrid AF therapy and other key products, which have continued to drive revenue upward.
Additionally, Matson’s optimism is bolstered by Atricure’s guidance for the upcoming year, which not only exceeds consensus revenue expectations but also shows a promising trajectory for adjusted EBITDA. Despite facing new competition, Atricure’s forward-looking statements suggest continued growth and profitability improvements, reinforcing the rationale behind the Buy rating.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $60.00 price target.
See the top stocks recommended by analysts >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Atricure (ATRC) Company Description:
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.
Read More on ATRC:
