AtriCure (NASDAQ:ATRC) Issues FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of -0.800–0.740 for the period, compared to the consensus EPS estimate of -0.790. The company issued revenue guidance of $459.0 million-$462.0 million, compared to the consensus revenue estimate of $458.1 million.

AtriCure Trading Down 4.7 %

Shares of AtriCure stock traded down $1.65 during mid-day trading on Thursday, hitting $33.18. 844,408 shares of the stock were exchanged, compared to its average volume of 732,325. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -39.98 and a beta of 1.44. The company has a current ratio of 4.13, a quick ratio of 2.93 and a debt-to-equity ratio of 0.16. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.00. The company has a 50-day simple moving average of $27.68 and a 200 day simple moving average of $24.37.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The firm had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same quarter last year, the firm earned ($0.20) earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. Research analysts forecast that AtriCure will post -0.77 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ATRC shares. UBS Group upped their target price on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer raised their price target on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday. Stifel Nicolaus dropped their price target 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. JPMorgan Chase & Co. boosted their price objective on AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Piper Sandler dropped their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

Insider Buying and Selling at AtriCure

In other news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $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 is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

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.