Kaufman Raises Price Target on ArthroCare (ARTC), Now Targets 500 More Cardiac Surgery Centers
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Price: $9.97 --0%
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Kaufman Bros. is reiterating its Buy rating on shares of ArthroCare (NASDAQ: ARTC) while increasing its price target from $14 to $16.
The firm reports ARTC is now able to target 500 more cardiac surgery centers, on top of the 500 it already covers in the U.S. market or 51 percent on the U.S. market share, as it has the only AF FDA label for surgical ablation of persistent and long-standing persistent AF patients.
Kaufman is predicting the formal physician training launch will begin in late January at the Society of Thoracic Surgeons.
The firm is maintaining its FY11 EPS estimate of ($0.31) and is reducing its FY12 estimate from ($0.15) to ($0.19). An analyst at Kaufman comments, "Early in the process, we expect to see modest increases in U.S. open heart sales beginning late 2Q12. Thus, our 2012 U.S. open heart sales estimate increases to +4.7% from a prior +2.8%. In 2013, our estimate increases to +7.0% from a prior +3.9%. In 2014, we are introducing a +9.0% estimate. Thus, our full-year 2012 top-line growth forecast increases to +12.4% (previously +11.6%). Likewise for 2013, our forecast increases to +11.7% (previously 10.5%). For 2014, we are introducing a full-year revenue growth projection of +10.5%."
For an analyst ratings summary and ratings history on ArthroCare click here. For more ratings news on ArthroCare click here.
Shares of ArthroCare closed at $31.28 yesterday.
The firm reports ARTC is now able to target 500 more cardiac surgery centers, on top of the 500 it already covers in the U.S. market or 51 percent on the U.S. market share, as it has the only AF FDA label for surgical ablation of persistent and long-standing persistent AF patients.
Kaufman is predicting the formal physician training launch will begin in late January at the Society of Thoracic Surgeons.
The firm is maintaining its FY11 EPS estimate of ($0.31) and is reducing its FY12 estimate from ($0.15) to ($0.19). An analyst at Kaufman comments, "Early in the process, we expect to see modest increases in U.S. open heart sales beginning late 2Q12. Thus, our 2012 U.S. open heart sales estimate increases to +4.7% from a prior +2.8%. In 2013, our estimate increases to +7.0% from a prior +3.9%. In 2014, we are introducing a +9.0% estimate. Thus, our full-year 2012 top-line growth forecast increases to +12.4% (previously +11.6%). Likewise for 2013, our forecast increases to +11.7% (previously 10.5%). For 2014, we are introducing a full-year revenue growth projection of +10.5%."
For an analyst ratings summary and ratings history on ArthroCare click here. For more ratings news on ArthroCare click here.
Shares of ArthroCare closed at $31.28 yesterday.
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