AtriCure (NASDAQ:ATRC) Issues FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of -0.800–0.740 for the period, compared to the consensus earnings per share estimate of -0.740. The company issued revenue guidance of $465.3 million-$465.3 million, compared to the consensus revenue estimate of $460.9 million. AtriCure also updated its FY 2025 guidance to EPS.

Analysts Set New Price Targets

ATRC has been the subject of a number of research reports. UBS Group upped their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $40.00 price objective on shares of AtriCure in a report on Tuesday, December 17th. Oppenheimer boosted their target price on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their price target on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Needham & Company LLC boosted their price objective on shares of AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

AtriCure Stock Performance

AtriCure stock opened at $33.17 on Monday. The company’s 50-day moving average is $33.82 and its 200 day moving average is $28.56. The firm has a market capitalization of $1.62 billion, a P/E ratio of -39.96 and a beta of 1.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. AtriCure has a 1-year low of $18.94 and a 1-year high of $39.04.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.02. The firm had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.20) EPS. Research analysts forecast that AtriCure will post -0.72 EPS for the current year.

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.