AtriCure (NASDAQ:ATRC) Posts Earnings Results

AtriCure (NASDAQ:ATRC) issued its quarterly earnings results on Tuesday. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.02, Briefing.com reports. The company had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. AtriCure’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the business earned ($0.20) EPS. AtriCure updated its FY 2024 guidance to -0.800–0.740 EPS.

AtriCure Price Performance

ATRC stock opened at $34.83 on Thursday. The company has a fifty day simple moving average of $27.68 and a two-hundred day simple moving average of $24.37. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.00. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.66 billion, a P/E ratio of -43.54 and a beta of 1.44.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ATRC shares. Canaccord Genuity Group lifted their target price on AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group raised their target price on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus decreased their target price on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC raised their price target on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Oppenheimer upped their price objective on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AtriCure presently has an average rating of “Moderate Buy” and a consensus target price of $43.11.

Insider Activity at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the sale, the director now owns 8,970 shares in the company, valued at approximately $215,907.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.20% of the stock is owned by insiders.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.