Kerrisdale: AtriCure Inc. (ATRC) Revenue Growth is Set to Short-Circuit

Kerrisdale Capital is short shares of AtriCure, Inc.Q2 2020 hedge fund letters, conferences and moreWe are short shares of AtriCure, a $1.9bn medical device company that manufactures and sells ablation equipment used in the surgical treatment of atrial fibrillation (AF). At about 7x forward revenues, AtriCure’s valuation implies that the company’s outlook is brighter than at any point in the last decade. But with the company’s core surgical ablation market almost completely saturated, and the relentless improvements in catheter ablation technology accelerating, AtriCure is facing both rapidly …

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HEDGE accordingly