AtriCure growth story ‘underappreciated’, says Piper Jaffray

Piper Jaffray analyst Matt O’Brien keeps his Overweight rating and $37 price target on AtriCure after its better than expected Q1 results and raised FY19 revenue outlook at the low end of its prior range. The analyst notes that in spite of the “very strong” appendage management trends, the company’s domestic MIS has been “lumpy”, which justifies the management’s “conservative” outlook. O’Brien adds that while there was no update on Converge data, he sees “progress to a potential panel next year” remaining on track and believes that the company’s “accelerating growth story is still underappreciated.”

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