Analysts predict that AtriCure, Inc. (NASDAQ:ATRC) will announce $43.90 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for AtriCure’s earnings. AtriCure posted sales of $38.34 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.5%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that AtriCure will report full year sales of $43.90 million for the current financial year, with estimates ranging from $177.10 million to $177.80 million. For the next fiscal year, analysts anticipate that the company will report sales of $204.30 million per share, with estimates ranging from $202.40 million to $206.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow AtriCure.
AtriCure (NASDAQ:ATRC) last posted its earnings results on Thursday, July 27th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.05. AtriCure had a negative return on equity of 19.56% and a negative net margin of 19.56%. The firm had revenue of $45.23 million for the quarter, compared to analyst estimates of $44.15 million. During the same quarter in the prior year, the company earned ($0.26) EPS. AtriCure’s revenue was up 14.0% on a year-over-year basis.
A number of research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price objective (up previously from $25.00) on shares of AtriCure in a research note on Friday, July 28th. Zacks Investment Research lowered shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. BidaskClub lowered shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Stifel Nicolaus restated a “buy” rating and issued a $25.00 price target on shares of AtriCure in a research report on Sunday, July 30th. Finally, Canaccord Genuity restated a “buy” rating and issued a $28.00 price target on shares of AtriCure in a research report on Monday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $25.83.
AtriCure (NASDAQ:ATRC) traded up 1.49% during midday trading on Friday, reaching $21.81. The company had a trading volume of 99,626 shares. AtriCure has a 52-week low of $14.78 and a 52-week high of $25.18. The company’s market capitalization is $748.82 million. The company’s 50 day moving average is $21.96 and its 200-day moving average is $22.13.
In other AtriCure news, Director Elizabeth D. Krell sold 10,000 shares of AtriCure stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $22.40, for a total value of $224,000.00. Following the transaction, the director now owns 29,967 shares in the company, valued at $671,260.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 10.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ATRC. Bank of New York Mellon Corp grew its position in AtriCure by 24.2% in the first quarter. Bank of New York Mellon Corp now owns 179,586 shares of the medical device company’s stock worth $3,439,000 after buying an additional 35,013 shares during the last quarter. Swiss National Bank grew its position in AtriCure by 7.0% during the 1st quarter. Swiss National Bank now owns 54,700 shares of the medical device company’s stock worth $1,048,000 after purchasing an additional 3,600 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in AtriCure by 11.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 34,622 shares of the medical device company’s stock worth $663,000 after purchasing an additional 3,488 shares in the last quarter. American International Group Inc. grew its position in AtriCure by 7.0% during the 1st quarter. American International Group Inc. now owns 19,346 shares of the medical device company’s stock worth $370,000 after purchasing an additional 1,273 shares in the last quarter. Finally, OppenheimerFunds Inc. purchased a new position in AtriCure during the 1st quarter worth approximately $561,000. Hedge funds and other institutional investors own 82.11% of the company’s stock.
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AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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