AtriCure (ATRC) to Release Earnings on Tuesday

AtriCure (NASDAQ:ATRC) will be releasing its earnings data after the market closes on Tuesday, October 29th. Analysts expect AtriCure to post earnings of ($0.20) per share for the quarter. AtriCure has set its FY 2024 guidance at -0.820–0.740 EPS.Investors interested in registering for the company’s conference call can do so using this link.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The business had revenue of $116.27 million during the quarter, compared to analysts’ expectations of $116.24 million. During the same quarter last year, the company earned ($0.12) earnings per share. The firm’s revenue was up 15.2% on a year-over-year basis. On average, analysts expect AtriCure to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

AtriCure Trading Down 0.9 %

Shares of ATRC opened at $28.54 on Tuesday. The stock’s 50-day moving average price is $26.83 and its 200 day moving average price is $24.18. 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 $1.36 billion, a price-to-earnings ratio of -35.68 and a beta of 1.44. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.00.

Analyst Ratings Changes

A number of analysts have recently issued reports on ATRC shares. JPMorgan Chase & Co. lowered their price objective on AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC dropped their price objective on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus decreased their target price on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Finally, BTIG Research cut their price target on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, AtriCure presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.44.

Insider Activity at AtriCure

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

About AtriCure

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.