Needham Thinks Atricure’s Stock is Going to Recover

Needham analyst Michael Matson maintained a Buy rating on Atricure (ATRCResearch Report) today and set a price target of $55.00. The company’s shares closed last Monday at $40.71, close to its 52-week low of $32.84.

According to TipRanks.com, Matson is a 3-star analyst with an average return of 2.3% and a 46.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

Currently, the analyst consensus on Atricure is a Strong Buy with an average price target of $70.33, implying a 70.4% upside from current levels. In a report issued on June 14, Canaccord Genuity also maintained a Buy rating on the stock with a $72.00 price target.

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The company has a one-year high of $89.18 and a one-year low of $32.84. Currently, Atricure has an average volume of 284.1K.

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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.

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