AtriCure prices $24M stock offering | Wall Street Beat

MassDevice.com Wall Street Beat

AtriCure (NSDQ:ATRC) priced a public offering of nearly 3.5 million shares of stock at $7.25 per share, saying it expects net proceeds of about $23.5 million.

The West Chester, Ohio-based medical device company said it granted underwriter Piper Jaffray a 30-day over-allotment option for another 521,000 shares.

"AtriCure plans to use the net proceeds from the offering for general corporate purposes and working capital," according to a press release.

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 Analysts’ ups and downs

  • Abbott (NYSE:ABT): Jefferies & Co. reiterates "buy" rating, lowers price target from $87 to $39.
  • AtriCure (NSDQ:ATRC): Leerink Swann sets "outperform" rating, ~$10 price target.
  • Boston Scientific (NYSE:BSX): Stifel Nicolaus reiterates "buy" rating, increases price target from $6.50 to $7.
  • Johnson & Johnson (NYSE:JNJ): Jefferies & Co. reiterates "hold" rating, raises price target from $75 to $79.
  • Thoratec (NSDQ:THOR): Zack’s downgrades to "neutral" rating.

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