Needham & Company Starts AtriCure Inc. (ATRC) at Buy

Needham & Company initiates coverage on AtriCure Inc. (NASDAQ: ATRC) with a Buy rating and a price target of $21.00.

Analyst Mike Matson commented, "ATRC is the leader in surgical treatment of atrial fibrillation (AF) and left atrial appendage (LAA) occlusion. Its growth is currently being driven by use of its products to treat AF in patients that are already undergoing open heart surgeries. But ATRC's products can also be used in minimally invasive surgery (MIS) on a stand-alone basis. ATRC is conducting trials to obtain FDA approval for MIS use and we believe that this could add to ATRC's growth in coming years. We believe that 2015 revenue guidance is conservative, and we note that ATRC has a track record of beating estimates. Given this, and a valuation that is at a discount to peers, we are initiating coverage with a Buy rating."

For an analyst ratings summary and ratings history on AtriCure Inc. click here. For more ratings news on AtriCure Inc. click here.

Shares of AtriCure Inc. closed at $17.90 yesterday.

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