Skip to main content

Market Overview

Canaccord Analysts Recommend 'Aggressively Buying' AtriCure After Sell-Off

  • AtriCure Inc (NASDAQ: ATRC) shares have lost 19 percent in the last three months, even after hitting their 52-week high of $28.15 in August.
  • Canaccord’s Jason Mills maintained a Buy rating on the company, with a price target of $31.
  • Recent weakness in the company’s shares and continued growth potential in its target markets provide an excellent investment opportunity, Mills mentioned.

Analyst Jason Mills said that recent investor meetings with AtriCure’s CEO Mike Carrel and CFO Andy Wade highlighted the vast opportunities for the company in its target markets - concomitant AFib ablation, stand-alone A-Fib ablation, and LAA/stroke management.

The company’s management also outlined a credible strategy to increase the penetration of its underserved TAMs.

Mills believes that AtriCure’s management is capable of continuing to execute relative to its revenue growth prospects of over 15 percent in the next several years. The company‘s gross margins are also expected to expand from the current 71 percent to 75 percent over the next few years.

The revenue estimates for 2015 and 2016 have been raised from $128.2 million to $128.9 million and from $147.7 million to $150 million, respectively.

AtriCure is in a sound financial position with $60 million in cash, no debt and minimal losses expected in the near term, Mills noted, while adding that the company will not need to raise additional capital via an equity issue.

The company’s growth prospects are driven by its dominant position, limited competition in its target markets and the TigerPaw and Lariat recalls by its competitors. AtriCure is focusing its growth strategy on physician training, new product innovation and continued development of clinical evidence, Mills added.

Latest Ratings for ATRC

Feb 2021SVB LeerinkMaintainsOutperform
Feb 2021NeedhamMaintainsBuy
Dec 2020SVB LeerinkMaintainsOutperform

View More Analyst Ratings for ATRC
View the Latest Analyst Ratings


Related Articles (ATRC)

View Comments and Join the Discussion!

Posted-In: Canaccord Jason MillsAnalyst Color Reiteration Analyst Ratings

Latest Ratings

QTRXSVB LeerinkMaintains85.0
VEEVPiper SandlerMaintains350.0
PTGXSVB LeerinkMaintains41.0
IPARDA DavidsonMaintains77.0
TOYDA DavidsonMaintains37.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at