ArthroCare Corp. PT Raised to $56.00 (ARTC)
Equities researchers at Canaccord Genuity lifted their target price on shares of ArthroCare Corp. (NASDAQ:ARTC) from $48.00 to $56.00 in a research report issued on Wednesday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective points to a potential upside of 20.25% from the company’s current price.
Shares of ArthroCare Corp. (NASDAQ:ARTC) traded up 14.76% during mid-day trading on Wednesday, hitting $46.57. The stock had a trading volume of 1,466,752 shares. ArthroCare Corp. has a 52-week low of $31.56 and a 52-week high of $49.95. The stock has a 50-day moving average of $38.77 and a 200-day moving average of $36.13. The company has a market cap of $1.322 billion and a price-to-earnings ratio of 64.11.
ArthroCare Corp. (NASDAQ:ARTC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $91.86 million for the quarter, compared to the consensus estimate of $88.99 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts expect that ArthroCare Corp. will post $1.44 EPS for the current fiscal year.
In other ArthroCare Corp. news, SVP Bruce Prothro sold 6,167 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.75, for a total transaction of $245,138.25. Following the sale, the senior vice president now directly owns 39,421 shares in the company, valued at approximately $1,566,985. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of other analysts have also recently weighed in on ARTC. Analysts at Jefferies Group raised their price target on shares of ArthroCare Corp. from $38.00 to $47.00 in a research note to investors on Wednesday. Analysts at Piper Jaffray raised their price target on shares of ArthroCare Corp. from $43.00 to $46.00 in a research note to investors on Friday, November 1st. They now have an “overweight” rating on the stock. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $49.67.
ArthroCare Corporation (NASDAQ:ARTC), is a medical device company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.