UBS Initiates Coverage of Atricure (ATRC) with Buy Recommendation

Fintel reports that on September 29, 2023, UBS initiated coverage of Atricure (NASDAQ:ATRC) with a Buy recommendation.

Analyst Price Forecast Suggests 57.49% Upside

As of August 31, 2023, the average one-year price target for Atricure is 69.16. The forecasts range from a low of 59.59 to a high of $82.95. The average price target represents an increase of 57.49% from its latest reported closing price of 43.91.

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The projected annual revenue for Atricure is 388MM, an increase of 6.00%. The projected annual non-GAAP EPS is -0.85.

What is the Fund Sentiment?

There are 495 funds or institutions reporting positions in Atricure. This is a decrease of 14 owner(s) or 2.75% in the last quarter. Average portfolio weight of all funds dedicated to ATRC is 0.22%, an increase of 14.04%. Total shares owned by institutions decreased in the last three months by 2.46% to 56,549K shares. The put/call ratio of ATRC is 0.20, indicating a bullish outlook.

What are Other Shareholders Doing?

Alliancebernstein holds 3,210K shares representing 6.78% ownership of the company. In it's prior filing, the firm reported owning 3,124K shares, representing an increase of 2.69%. The firm increased its portfolio allocation in ATRC by 16.65% over the last quarter.

Champlain Investment Partners holds 1,810K shares representing 3.82% ownership of the company. In it's prior filing, the firm reported owning 1,892K shares, representing a decrease of 4.51%. The firm increased its portfolio allocation in ATRC by 11.43% over the last quarter.

Fred Alger Management holds 1,465K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 1,511K shares, representing a decrease of 3.13%. The firm increased its portfolio allocation in ATRC by 17.38% over the last quarter.

First Light Asset Management holds 1,462K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 1,459K shares, representing an increase of 0.18%. The firm increased its portfolio allocation in ATRC by 3.84% over the last quarter.

Macquarie Group holds 1,400K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 1,409K shares, representing a decrease of 0.69%. The firm increased its portfolio allocation in ATRC by 22.29% over the last quarter.

Atricure Background Information
(This description is provided by the company.)

AtriCure, Inc. provides innovative technologies for the treatment of Afib and related conditions. Afib affects more than 33 million people worldwide. Electrophysiologists and cardiothoracic surgeons around the globe use AtriCure technologies for the treatment of Afib and reduction of Afib related complications. AtriCure's Isolator ® Synergy™ Ablation System is the first and only medical device to receive FDA approval for the treatment of persistent Afib. AtriCure's AtriClip ® Left Atrial Appendage Exclusion System products are the most widely sold LAA management devices worldwide.

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This story originally appeared on Fintel.

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