AtriCure price target lowered to $55 from $65 at BTIG

BTIG analyst Marie Thibault lowered the firm’s price target on AtriCure to $55 from $65 but keeps a Buy rating on the shares after its Q4 results. The company’s EnCompass and Cryo nerve block lead the way but the growth of its Convergent procedure is lagging with a sequential and a y/y decline in revenue, the analyst tells investors in a research note. The firm adds that it remains positive on AtriCure’s high-growth products and progress toward profitability, but reduces its U.S. MIS sales forecast to account for continued headwinds in Converge.