Breaking News: AtriCure Inc. (NASDAQ:ATRC) Price Target Adjusted by BTIG to $53.00, Buy Rating Retained
On Wednesday, BTIG revised its price target for AtriCure Inc., a leading medical device company, to $53.00 from $58.00 while maintaining its Buy rating. AtriCure reported second-quarter revenue of $116.3 million, exceeding expectations. The U.S. revenue reached $95.5 million, and international revenue was $20.7 million, both showing strong growth.
Despite challenges in the market, AtriCure's Open AtriClip franchise saw a 17% increase in sales, and its 8th-generation Flex Mini device received FDA clearance. The company adjusted its full-year revenue guidance to $456 million to $461 million, reflecting a 15% increase year-over-year. AtriCure remains positive about its long-term growth potential.
In other news, AtriCure reported strong financial performance in the first quarter of 2024, exceeding estimates. Despite positive results, analysts have reduced their price targets for AtriCure shares due to industry trends.
InvestingPro Insights: AtriCure's market cap is $1.06 billion, with solid revenue growth. However, the stock's recent performance has been volatile. While the company has a strong gross profit margin, it has not been profitable recently. Investors can use the coupon code PRONEWS24 on InvestingPro for tips and insights to inform their investment decisions.