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July 25, 2014
08:30 EDTATRCAtriCure posted outstanding Q2 results, says Canaccord
Canaccord said Atricure posted outstanding Q2 results, citing its growth trajectory, its integration of the Estech acquisition, and its investments in education and product development. The firm feels Atricure is undervalued and reiterates its Buy rating and $26 price target on the shares.
News For ATRC From The Last 14 Days
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October 6, 2015
08:06 EDTATRCAtriCure pullback brings 'highly attractive' entry point, says Leerink
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07:57 EDTATRCAtriCure weakness a buying opportunity, says Canaccord
Canaccord sees the weakness in AtriCure following its acquisition announcement as a buying opportunity, as the firm believes the acquisition of nContact will strengthen the company's presence in the AF market, expand its ability to penetrate the large stand-alone AF opportunity and drive a higher long-term growth rate. Canaccord lowered its price target to $28 from $31 on AtriCure shares but reiterated its Buy rating on the stock.
October 5, 2015
16:16 EDTATRCOn The Fly: Top stock stories for Monday
The Dow began the day with a triple digit jump and continued to tack on gains from there, rising nearly 2% by the time the closing bell rang. The Nasdaq and S&P also posted significant gains in the market's broad based advance. The number of advancing stocks crushed the number of declining stocks while the up volume overwhelmed the down volume. The S&P 500 is now on a five day winning streak with earnings season set to unofficially begin on Thursday, when Alcoa (AA) releases its quarterly report after the close. ECONOMIC EVENTS: In the U.S., Markit's services PMI dropped to 55.1 in the final September print, compared to the preliminary reading of 55.6 and August's 56.1 figure. ISM's services index dropped 2.1 points to 56.9 in September, versus expectations for a more modest pullback to a reading of 57.5. COMPANY NEWS: General Electric (GE) was the best performer on the Dow, advancing $1.35, or 5.3%, to $26.82 after activist investor Nelson Peltz disclosed that his firm, Trian Fund Management, has accumulated a $2.5B stake, making it one of the company's top ten shareholders. Trian, which believes GE is "executing a bold transformation" from a broad conglomerate into an industrial company, predicted that GE stock may be worth $40-$45 per share by 2017... Shares of Twitter (TWTR) rose $1.85, or 7.03%, to $28.16 after the company appointed co-founder and interim Chief Executive Jack Dorsey as permanent CEO. Analysts welcomed the news, saying Dorsey was simply "too good to pass up" despite his concurrent role as head of payments company Square. Axiom analyst Victor Anthony upgraded the stock to Buy from Hold, though the rating change was made prior to this morning's CEO news, which had been previewed last week by Re/code, was confirmed by the company... The U.S., Japan and ten other countries came to terms on the Trans-Pacific Partnership, a trade agreement meant to open agricultural markets, tighten intellectual property rules and establish a group that will have the clout to challenge China's influence in the region. Reacting to the deal, Honeywell (HON) said trade agreements like the TPP have the potential to boost exports, support jobs, and increase access abroad, while Boeing (BA) pointed out that more than 70% of its commercial airplane revenue last year came from customers outside the U.S. MAJOR MOVERS: Among the notable gainers was Spark Therapeutics (ONCE), which surged $9.09, or 20.69%, to $53.02 after the Phase 3 trial of the company's lead gene therapy product met its primary endpoint. Also higher was SunEdison (SUNE), which gained 77c, or 9.31%, to $9.04 after announcing plans to optimize its business operations by refocusing on its core markets and simplifying its structure, among other initiatives. Among the noteworthy losers were a number of Apple (AAPL) chip suppliers, with Cirrus Logic (CRUS), Skyworks (SWKS) and Avago (AVGO) falling a respective 4.5%, 1.7%, and 2.6% after Citi analysts lowered fourth quarter iPhone sales estimates. Also lower was Valeant (VRX), which lost $18.86, or 10.34%, to $163.46 after its alleged "price hike" business strategy was highlighted in reports by the New York Times and Barron's. Additionally, AtriCure (ATRC) declined 8.8% to $20.47 after releasing preliminary third quarter results and agreeing to acquire cardiac device maker nContact. INDEXES: The Dow gained 304.06, or 1.85%, to 16,776.43, the Nasdaq advanced 73.49, or 1.56%, to 4,781.26, and the S&P 500 rose 35.69, or 1.83%, to 1,987.05.
07:26 EDTATRCAtriCure weakness would be a buying opportunity, says Canaccord
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05:48 EDTATRCAtriCure to host conference call
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October 4, 2015
18:18 EDTATRCAtriCure sees FY16 revenue up 25%, consensus $145.98M
Expects FY16 adjusted EBITDA loss to increase due to acquisition and integration costs related to nContact, with the impact slowing in 2017. The company expects to be adjusted EBITDA positive for FY18.
18:16 EDTATRCAtriCure narrows FY15 revenue to $128M-$129M, consensus $127.63M
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18:10 EDTATRCAtriCure sees Q3 revenue $31.6M, consensus $31.18M
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18:05 EDTATRCAtriCure to acquire cardiac device maker nContact
AtriCure announced that it has entered into a definitive merger agreement under which it has agreed to acquire nContact, a privately held developer of cardiac ablation solutions. The transaction consideration consists of an upfront payment of approximately 3.7M shares of AtriCure common stock, valued at $24.60 per share, and approximately $8M in cash. The transaction also includes up to $50M in additional contingent consideration based on completion of enrollment of the CONVERGE IDE trial and PMA approval. Additionally, nContact shareholders are entitled to additional sales-based contingent consideration on revenue in excess of an annual growth rate of greater than 25% through 2019. All contingent consideration can be paid in either cash or AtriCure common stock, or a combination of both. The transaction is expected to close in the next several weeks. AtriCure expects that the transaction will be accretive to its revenue growth rate going forward, and the company expects to increase sales and marketing expenditures as well as clinical trial expenditures in order to accelerate efforts in those areas. The company expects the transaction to be dilutive to EBITDA through 2017 and accretive in 2018 and beyond.
September 30, 2015
08:03 EDTATRCAtriCure launches cryoFORM cryoablation probe
AtriCure announced the launch of the cryoFORM cryoablation probe, which offers increased probe flexibility to adapt to a variety of surgical ablation procedures. This offering adds to the cryoICE family of ablation products which are used in the cryosurgical treatment of cardiac arrhythmias. The cryoFORM probe builds off of the company's core strengths in cryoablation technology, leveraging such important features as thermal capacity to remove heat and active defrost, which allows the probe to be safely and quickly detached while maintaining the tissue's frozen state. Building upon those strengths, the new probe offers increased flexibility, allowing the surgeon to more easily manipulate and apply the device and conform to challenging anatomies.
September 23, 2015
07:53 EDTATRCUBS medical supplies & devices analyst holds an analyst/industry conference call
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