Stifel Nicolaus Believes Atricure (NASDAQ: ATRC) Won’t Stop Here

By Jason Carr

Stifel Nicolaus analyst Rick Wise reiterated a Buy rating on Atricure (NASDAQ: ATRC) on July 27 and set a price target of $25. The company’s shares closed on Friday at $23.84, close to its 52-week high of $25.11.

According to TipRanks.com, Wise is a 5-star analyst with an average return of 12.6% and a 71.4% success rate. Wise covers the Healthcare sector, focusing on stocks such as Corindus Vascular Robotics, Trivascular Technologies, and Obalon Therapeutics Inc.

Currently, the analyst consensus on Atricure is Strong Buy and the average price target is $26.25, representing a 10.1% upside.

In a report issued on July 27, Canaccord Genuity also reiterated a Buy rating on the stock with a $28 price target.

Based on Atricure’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $45.23 million and GAAP net loss of $6.88 million. In comparison, last year the company earned revenue of $39.67 million and had a GAAP net loss of $8.21 million.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. Last month, Douglas Seith, the COO of ATRC sold 58,112 shares for a total of $1,243,016.

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AtriCure, Inc. engages in the provision of innovative products, professional education, and support for the treatment of atrial fibrillation. Its product, Isolator Synergy Ablation System, is a surgical device that treats the persistent longstanding persistent forms of atrial fibrillation in patients undergoing certain open concomitant procedures.