AtriCure Inc. (ATRC) Expected to Announce Quarterly Sales of $40.34 Million
Equities analysts expect that AtriCure Inc. (NASDAQ:ATRC) will report sales of $40.34 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for AtriCure’s earnings, with estimates ranging from $40.12 million to $40.5 million. AtriCure posted sales of $35.94 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.2%. The company is expected to announce its next earnings report after the market closes on Thursday, May 4th.
According to Zacks, analysts expect that AtriCure will report full-year sales of $40.34 million for the current fiscal year, with estimates ranging from $175.3 million to $176.4 million. For the next year, analysts expect that the business will report sales of $202.03 million per share, with estimates ranging from $198.8 million to $204.2 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover AtriCure.
AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Tuesday, February 28th. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.05. The company earned $41.20 million during the quarter, compared to analysts’ expectations of $41.17 million. AtriCure had a negative net margin of 23.78% and a negative return on equity of 19.84%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.36) EPS.
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A number of brokerages recently issued reports on ATRC. Zacks Investment Research downgraded shares of AtriCure from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th. Canaccord Genuity reiterated a “buy” rating and issued a $22.00 price target on shares of AtriCure in a research note on Monday. Northland Securities reiterated a “buy” rating and issued a $24.00 price target on shares of AtriCure in a research note on Monday, March 20th. BTIG Research downgraded shares of AtriCure from a “buy” rating to a “neutral” rating in a research note on Monday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of AtriCure in a research note on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $21.25.
In other news, SVP Andrew L. Lux sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $18.85, for a total transaction of $377,000.00. Following the completion of the sale, the senior vice president now owns 85,589 shares in the company, valued at approximately $1,613,352.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.00% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Bank of Montreal Can increased its stake in shares of AtriCure by 1.2% in the first quarter. Bank of Montreal Can now owns 10,462 shares of the medical device company’s stock valued at $200,000 after buying an additional 128 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of AtriCure by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 71,668 shares of the medical device company’s stock valued at $1,403,000 after buying an additional 1,520 shares in the last quarter. Paradigm Capital Management Inc. NY increased its stake in shares of AtriCure by 1.6% in the third quarter. Paradigm Capital Management Inc. NY now owns 334,425 shares of the medical device company’s stock valued at $5,291,000 after buying an additional 5,200 shares in the last quarter. First Light Asset Management LLC increased its stake in shares of AtriCure by 1.0% in the fourth quarter. First Light Asset Management LLC now owns 939,012 shares of the medical device company’s stock valued at $18,376,000 after buying an additional 9,136 shares in the last quarter. Finally, Perkins Capital Management Inc. increased its stake in shares of AtriCure by 7.4% in the first quarter. Perkins Capital Management Inc. now owns 137,217 shares of the medical device company’s stock valued at $2,628,000 after buying an additional 9,467 shares in the last quarter. Institutional investors and hedge funds own 79.30% of the company’s stock.
Shares of AtriCure (NASDAQ:ATRC) opened at 19.53 on Thursday. AtriCure has a 52-week low of $13.44 and a 52-week high of $20.40. The stock’s market capitalization is $651.09 million. The firm has a 50-day moving average of $18.81 and a 200 day moving average of $17.94.
AtriCure Company Profile
AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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