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AtriCure's Shares Likely to Benefit From New AtriClip Device Sales
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AtriCure, Inc. (ATRC - Free Report) recently announced the treatment of the first patient with the AtriClip FLEX-Mini device. The device recently received the FDA 510(k) clearance.
The AtriClip FLEX-Mini, the smallest surgical left atrial appendage (LAA) device available, raises the standard with its easy-to-use, simple design that provides physicians with better visibility and access. It builds on the well-proven technology of AtriCure's AtriClip platform.
The recent developments regarding AtriCure’s ArtiClip devices are likely to help the business generate additional revenues and improve the stock’s price.
More on the AtriCure’s AtriClip FLEX-Mini Device
The AtriClip FLEX-Mini’s fully enclosed design with parallel beams for continuous closure force ensures appropriate pressure on atrial tissue. It combines the reliable components of the AtriClip portfolio.
During surgeries, the low-profile design gives doctors exceptional control since it improves visibility without sacrificing stability. This makes the application process much simpler. Moreover, the ergonomic handle shape of the gadget allows for single-handed placement.
In August, ATRC announced the receipt of an expanded indication for the AtriClip in CE-marked countries in Europe. The product is now indicated for use in patients at high risk of thromboembolism for whom LAA exclusion is warranted.
The expanded indication for AtriClip is based on ArtiCure’s clinical findings that patients who are at high risk of thromboembolism can experience fewer strokes with the device. The company expects significant growth potential from the use of mechanical appendage closure.
In July, ArtiCure announced that it had received regulatory approval from the National Medical Products Administration of China to market and sell several models of its AtriClip LAA Exclusion System.The company is likely to work closely with Chinese regulatory authorities to facilitate the introduction of additional innovative products in the future. This approval is expected to expand ArtiCure’s business globally and generate additional revenues.
Industry Prospects Favoring AtriCure
Per a report by Grand View Research, the global atrial fibrillation market size was estimated to be $22.4 billion in 2022 and is expected to witness a growth rate of 10.1% from 2023 to 2030.
The increasing prevalence of AFib and growing awareness about the condition are expected to drive the market. Factors such as the aging population, lifestyle changes, and the surge in chronic illnesses such as obesity and diabetes are contributing to the rising incidence of atrial fibrillation.
The recent developments regarding AtriCure’s ArtiClip devices are likely to help the business generate additional revenues and increase the price of shares.
Price Performance
In the past six months, ATRC’s shares have plunged 28.3% against the industry’s rise of 11.5%. The S&P 500 has gained 17.9% in the same time frame.
Universal Health Service has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Service has gained 41.1% compared with the industry's 34.8% rise so far this year.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have gained 3.7% so far this year compared with the industry’s 10.2% rise.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% so far this year compared with the industry’s 11.9% growth.
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AtriCure's Shares Likely to Benefit From New AtriClip Device Sales
AtriCure, Inc. (ATRC - Free Report) recently announced the treatment of the first patient with the AtriClip FLEX-Mini device. The device recently received the FDA 510(k) clearance.
The AtriClip FLEX-Mini, the smallest surgical left atrial appendage (LAA) device available, raises the standard with its easy-to-use, simple design that provides physicians with better visibility and access. It builds on the well-proven technology of AtriCure's AtriClip platform.
The recent developments regarding AtriCure’s ArtiClip devices are likely to help the business generate additional revenues and improve the stock’s price.
More on the AtriCure’s AtriClip FLEX-Mini Device
The AtriClip FLEX-Mini’s fully enclosed design with parallel beams for continuous closure force ensures appropriate pressure on atrial tissue. It combines the reliable components of the AtriClip portfolio.
During surgeries, the low-profile design gives doctors exceptional control since it improves visibility without sacrificing stability. This makes the application process much simpler. Moreover, the ergonomic handle shape of the gadget allows for single-handed placement.
Recent Developments Regarding AtriCure’s AtriClip Devices
In August, ATRC announced the receipt of an expanded indication for the AtriClip in CE-marked countries in Europe. The product is now indicated for use in patients at high risk of thromboembolism for whom LAA exclusion is warranted.
The expanded indication for AtriClip is based on ArtiCure’s clinical findings that patients who are at high risk of thromboembolism can experience fewer strokes with the device. The company expects significant growth potential from the use of mechanical appendage closure.
In July, ArtiCure announced that it had received regulatory approval from the National Medical Products Administration of China to market and sell several models of its AtriClip LAA Exclusion System.The company is likely to work closely with Chinese regulatory authorities to facilitate the introduction of additional innovative products in the future. This approval is expected to expand ArtiCure’s business globally and generate additional revenues.
Industry Prospects Favoring AtriCure
Per a report by Grand View Research, the global atrial fibrillation market size was estimated to be $22.4 billion in 2022 and is expected to witness a growth rate of 10.1% from 2023 to 2030.
The increasing prevalence of AFib and growing awareness about the condition are expected to drive the market. Factors such as the aging population, lifestyle changes, and the surge in chronic illnesses such as obesity and diabetes are contributing to the rising incidence of atrial fibrillation.
The recent developments regarding AtriCure’s ArtiClip devices are likely to help the business generate additional revenues and increase the price of shares.
Price Performance
In the past six months, ATRC’s shares have plunged 28.3% against the industry’s rise of 11.5%. The S&P 500 has gained 17.9% in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank and Stocks to Consider
ATRC carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space are Universal Health Service (UHS - Free Report) , Quest Diagnostics (DGX - Free Report) and ABM Industries (ABM - Free Report) . While Universal Health Service sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and ABM Industries carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Service has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Service has gained 41.1% compared with the industry's 34.8% rise so far this year.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have gained 3.7% so far this year compared with the industry’s 10.2% rise.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% so far this year compared with the industry’s 11.9% growth.