AtriCure, Inc. (ATRC) Expected to Post Earnings of -$0.25 Per Share
Analysts forecast that AtriCure, Inc. (NASDAQ:ATRC) will post ($0.25) earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for AtriCure’s earnings, with estimates ranging from ($0.28) to ($0.21). AtriCure posted earnings per share of ($0.26) during the same quarter last year, which suggests a positive year-over-year growth rate of 3.8%. The business is expected to report its next earnings results on Thursday, August 3rd.
On average, analysts expect that AtriCure will report full year earnings of ($0.96) per share for the current financial year, with EPS estimates ranging from ($1.00) to ($0.89). For the next year, analysts anticipate that the business will post earnings of ($0.62) per share, with EPS estimates ranging from ($0.77) to ($0.31). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover AtriCure.
AtriCure (NASDAQ:ATRC) last released its earnings results on Thursday, May 4th. The medical device company reported ($0.32) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.01. The firm had revenue of $41.30 million during the quarter, compared to analysts’ expectations of $40.25 million. AtriCure had a negative net margin of 21.07% and a negative return on equity of 19.89%. AtriCure’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.31) EPS.
Several research firms have weighed in on ATRC. BTIG Research lowered shares of AtriCure from a “buy” rating to a “neutral” rating in a research note on Monday, March 6th. Northland Securities restated a “buy” rating and set a $24.00 price target on shares of AtriCure in a research note on Monday, March 20th. Canaccord Genuity reiterated a “buy” rating and issued a $22.00 target price on shares of AtriCure in a research note on Monday, April 17th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price (up from $23.00) on shares of AtriCure in a research note on Friday, May 5th. Finally, Zacks Investment Research upgraded shares of AtriCure from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Tuesday, May 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.56.
In other AtriCure news, Director Elizabeth D. Krell sold 10,000 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $21.44, for a total value of $214,400.00. Following the completion of the sale, the director now directly owns 24,162 shares of the company’s stock, valued at approximately $518,033.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 10.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Bank of Montreal Can increased its stake in shares of AtriCure by 1.2% in the first quarter. Bank of Montreal Can now owns 10,462 shares of the medical device company’s stock worth $200,000 after buying an additional 128 shares during the period. Bayesian Capital Management LP bought a new stake in shares of AtriCure during the fourth quarter worth $204,000. Rockefeller Financial Services Inc. increased its stake in shares of AtriCure by 185.0% in the first quarter. Rockefeller Financial Services Inc. now owns 11,766 shares of the medical device company’s stock worth $225,000 after buying an additional 7,637 shares during the period. Tudor Investment Corp Et Al bought a new stake in shares of AtriCure during the fourth quarter worth $253,000. Finally, Vident Investment Advisory LLC bought a new stake in shares of AtriCure during the first quarter worth $323,000. 86.46% of the stock is owned by hedge funds and other institutional investors.
AtriCure (NASDAQ ATRC) traded down 0.29% during mid-day trading on Thursday, reaching $24.18. 49,228 shares of the company’s stock traded hands. The company has a 50-day moving average of $21.97 and a 200-day moving average of $19.32. AtriCure has a 52-week low of $13.45 and a 52-week high of $24.75. The company’s market capitalization is $820.81 million.
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AtriCure Company Profile
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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