Michael Matson, an analyst from Needham, reiterated the Buy rating on Atricure (ATRC – Research Report). The associated price target remains the same with $51.00.
Michael Matson has given his Buy rating due to a combination of factors including the upcoming investor day hosted by Atricure. The event is expected to showcase the company’s current and future product offerings, as well as its long-term financial goals. Additionally, a discussion with a key opinion leader on prophylactic treatments and the Convergent procedure/PFA is anticipated to provide valuable insights. Matson believes that the investor day will act as a positive catalyst for the company, reinforcing his confidence in the stock. The long-term guidance is expected to align with consensus estimates, further supporting his Buy recommendation.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ATRC in relation to earlier this year.