AtriCure (NASDAQ:ATRC) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

by · The Markets Daily

AtriCure (NASDAQ:ATRC – Get Free Report) issued its quarterly earnings results on Tuesday. The medical device company reported ($0.17) 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%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.20) EPS. AtriCure updated its FY 2024 guidance to -0.800–0.740 EPS.

AtriCure Trading Down 4.7 %

ATRC stock traded down $1.65 during mid-day trading on Thursday, hitting $33.18. 844,408 shares of the company were exchanged, compared to its average volume of 732,325. 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 $1.62 billion, a P/E ratio of -39.98 and a beta of 1.44. The business has a fifty day simple moving average of $27.68 and a 200-day simple moving average of $24.37. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.00.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ATRC shares. Stifel Nicolaus dropped their target price on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Piper Sandler dropped their target price on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Canaccord Genuity Group upped their target price on shares of AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group upped their price objective on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.11.

Get Our Latest Stock Analysis on AtriCure

Insiders Place Their Bets

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 value of $84,245.00. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. 3.20% of the stock is currently owned by insiders.

AtriCure Company Profile

(Get Free Report)

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.

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