Brokerages forecast that AtriCure, Inc. (NASDAQ:ATRC) will post $45.27 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for AtriCure’s earnings, with estimates ranging from $44.90 million to $46.00 million. AtriCure posted sales of $41.16 million during the same quarter last year, which suggests a positive year over year growth rate of 10%. The company is expected to report its next earnings report on Tuesday, February 27th.
On average, analysts expect that AtriCure will report full-year sales of $45.27 million for the current financial year, with estimates ranging from $174.70 million to $177.10 million. For the next fiscal year, analysts expect that the firm will report sales of $195.37 million per share, with estimates ranging from $194.10 million to $197.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for AtriCure.
AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.02. AtriCure had a negative net margin of 19.40% and a negative return on equity of 20.28%. The firm had revenue of $42.20 million during the quarter, compared to the consensus estimate of $43.44 million. During the same period in the previous year, the firm posted ($0.21) earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year.
Several equities research analysts have weighed in on the stock. BidaskClub downgraded shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $25.00 price target on shares of AtriCure in a research note on Sunday, July 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price target (up from $25.00) on shares of AtriCure in a research note on Friday, July 28th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $28.00 price target on shares of AtriCure in a research note on Monday, October 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $25.00.
AtriCure (ATRC) traded up $0.14 on Friday, reaching $18.20. 65,039 shares of the company’s stock traded hands, compared to its average volume of 199,984. AtriCure has a 12-month low of $14.78 and a 12-month high of $25.18. The company has a quick ratio of 1.65, a current ratio of 2.28 and a debt-to-equity ratio of 0.20.
In other news, Director Elizabeth D. Krell sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $22.40, for a total transaction of $224,000.00. Following the completion of the sale, the director now directly owns 29,967 shares of the company’s stock, valued at $671,260.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director B Kristine Johnson bought 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average cost of $18.36 per share, with a total value of $27,540.00. Following the completion of the transaction, the director now owns 10,969 shares of the company’s stock, valued at $201,390.84. The disclosure for this purchase can be found here. Insiders own 11.90% of the company’s stock.
Several large investors have recently bought and sold shares of ATRC. US Bancorp DE grew its position in AtriCure by 152.1% in the 2nd quarter. US Bancorp DE now owns 4,202 shares of the medical device company’s stock worth $102,000 after purchasing an additional 2,535 shares in the last quarter. Sei Investments Co. grew its position in AtriCure by 75.5% in the 2nd quarter. Sei Investments Co. now owns 6,933 shares of the medical device company’s stock worth $168,000 after purchasing an additional 2,983 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in AtriCure in the 3rd quarter worth about $205,000. Legal & General Group Plc grew its position in AtriCure by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 8,528 shares of the medical device company’s stock worth $208,000 after purchasing an additional 312 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in AtriCure in the 2nd quarter worth about $253,000. 87.87% of the stock is owned by institutional investors.
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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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