ArthroCare Corp. Downgraded by BMO Capital Markets to Market Perform (ARTC)
ArthroCare Corp. (NASDAQ:ARTC) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, Analyst Ratings.Net reports.
Shares of ArthroCare Corp. (NASDAQ:ARTC) opened at 48.67 on Monday. ArthroCare Corp. has a 52 week low of $31.56 and a 52 week high of $49.95. The stock’s 50-day moving average is $46.02 and its 200-day moving average is $38.28. The company has a market cap of $1.385 billion and a price-to-earnings ratio of 76.09.
ArthroCare Corp. (NASDAQ:ARTC) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.10. The company had revenue of $101.70 million for the quarter, compared to the consensus estimate of $100.53 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts predict that ArthroCare Corp. will post $1.50 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Northcoast Research downgraded shares of ArthroCare Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, January 9th. Separately, analysts at Canaccord Genuity raised their price target on shares of ArthroCare Corp. from $48.00 to $56.00 in a research note on Wednesday, January 8th. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of ArthroCare Corp. from $38.00 to $47.00 in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $49.67.
ArthroCare Corporation (NASDAQ:ARTC), is a medical device company.
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