Wall Street analysts predict that AtriCure Inc. (NASDAQ:ATRC) will announce sales of $50.94 million for the current quarter, according to Zacks. Four analysts have made estimates for AtriCure’s earnings, with the highest sales estimate coming in at $51.20 million and the lowest estimate coming in at $50.70 million. AtriCure posted sales of $46.06 million in the same quarter last year, which suggests a positive year over year growth rate of 10.6%. The company is expected to issue its next earnings results on Monday, February 25th.
On average, analysts expect that AtriCure will report full-year sales of $199.63 million for the current financial year, with estimates ranging from $199.50 million to $199.90 million. For the next fiscal year, analysts forecast that the business will report sales of $222.02 million, with estimates ranging from $220.20 million to $225.10 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for AtriCure.
AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Thursday, November 1st. The medical device company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.02). AtriCure had a negative net margin of 10.41% and a negative return on equity of 17.08%. The business had revenue of $49.90 million during the quarter, compared to analyst estimates of $49.90 million. During the same quarter last year, the company posted ($0.22) earnings per share. The company’s revenue was up 18.2% on a year-over-year basis.
A number of equities research analysts have issued reports on the stock. Needham & Company LLC increased their price objective on shares of AtriCure from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, October 4th. Canaccord Genuity reiterated a “buy” rating and set a $37.00 price objective on shares of AtriCure in a research note on Thursday, August 2nd. Zacks Investment Research downgraded shares of AtriCure from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. ValuEngine upgraded shares of AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 3rd. Finally, BTIG Research reiterated a “hold” rating on shares of AtriCure in a research note on Thursday, August 2nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.80.
Shares of ATRC stock traded up $0.69 on Friday, hitting $32.73. The company’s stock had a trading volume of 8,512 shares, compared to its average volume of 306,800. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.37 and a current ratio of 3.16. AtriCure has a fifty-two week low of $14.88 and a fifty-two week high of $36.49. The company has a market capitalization of $1.11 billion, a PE ratio of -39.43 and a beta of 0.16.
In other AtriCure news, SVP Justin J. Noznesky sold 4,000 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $30.32, for a total transaction of $121,280.00. Following the sale, the senior vice president now directly owns 124,920 shares in the company, valued at $3,787,574.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of AtriCure by 958.4% in the second quarter. Sei Investments Co. now owns 42,960 shares of the medical device company’s stock worth $1,162,000 after acquiring an additional 38,901 shares during the last quarter. Quantum Capital Management lifted its holdings in shares of AtriCure by 5.0% in the second quarter. Quantum Capital Management now owns 114,345 shares of the medical device company’s stock worth $3,093,000 after acquiring an additional 5,458 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of AtriCure by 87.7% in the second quarter. TD Asset Management Inc. now owns 64,600 shares of the medical device company’s stock worth $1,747,000 after acquiring an additional 30,184 shares during the last quarter. AMS Capital Ltda bought a new position in shares of AtriCure in the third quarter worth about $725,000. Finally, First Light Asset Management LLC lifted its holdings in shares of AtriCure by 18.2% in the second quarter. First Light Asset Management LLC now owns 1,380,405 shares of the medical device company’s stock worth $37,340,000 after acquiring an additional 212,733 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.
AtriCure Company Profile
AtriCure, Inc provides atrial fibrillation solutions to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy; and EPi-Sense guided coagulation system used for the temporary cardiac signal sensing and recording during surgery.
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