Piper Jaffray Starts Stock Coverage on ArthroCare (ARTC)

By admin | 6 years ago

Investment analysts at Piper Jaffray (NYSE: PJC) began coverage on shares of ArthroCare (NASDAQ: ARTC) in a note issued to investors on Wednesday. The firm set an “overweight” rating on the stock.

ArthroCare traded up 1.38% on Wednesday, hitting $24.95. ArthroCare has a 1-year low of $23.54 and a 1-year high of $36.00. The company’s market cap is $690.1 million.

ArthroCare last released its earnings data on Wednesday, May 2nd. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.02. ArthroCare’s revenue was up 5.7% compared to the same quarter last year. Analysts expect that ArthroCare will post $0.29 EPS next quarter.

Separately, analysts at Jefferies Group (NYSE: JEF) downgraded shares of ArthroCare from a “buy” rating to a “hold” rating in a research note to investors on Friday, February 17th.

ArthroCare Corporation (ArthroCare) is a medical device company that develops, manufactures and markets surgical products, many of which are based on its Coblation technology.

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