-$0.25 EPS Expected for AtriCure, Inc. (ATRC) This Quarter
Equities analysts predict that AtriCure, Inc. (NASDAQ:ATRC) will post earnings per share of ($0.25) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for AtriCure’s earnings, with the highest EPS estimate coming in at ($0.21) and the lowest estimate coming in at ($0.28). AtriCure reported earnings of ($0.26) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 3.8%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, July 27th.
On average, analysts expect that AtriCure will report full year earnings of ($0.96) per share for the current financial year, with EPS estimates ranging from ($1.00) to ($0.89). For the next fiscal year, analysts forecast that the company will post earnings of ($0.62) per share, with EPS estimates ranging from ($0.77) to ($0.31). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow AtriCure.
AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Thursday, May 4th. The medical device company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.01. AtriCure had a negative return on equity of 19.89% and a negative net margin of 21.07%. The company had revenue of $41.30 million for the quarter, compared to the consensus estimate of $40.25 million. During the same period in the previous year, the business earned ($0.31) EPS. AtriCure’s revenue for the quarter was up 15.0% compared to the same quarter last year.
ATRC has been the subject of several research analyst reports. Zacks Investment Research raised AtriCure from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, May 9th. Canaccord Genuity reissued a “buy” rating and set a $22.00 price objective on shares of AtriCure in a research report on Monday, April 17th. Piper Jaffray Companies reissued an “overweight” rating and set a $26.00 price objective on shares of AtriCure in a research report on Tuesday, May 30th. TheStreet raised AtriCure from a “d+” rating to a “c-” rating in a research report on Monday, May 15th. Finally, ValuEngine raised AtriCure from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. AtriCure presently has an average rating of “Buy” and a consensus target price of $22.60.
In other AtriCure news, Director Elizabeth D. Krell sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $21.44, for a total value of $214,400.00. Following the completion of the transaction, the director now owns 24,162 shares of the company’s stock, valued at approximately $518,033.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 10.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ATRC. State Street Corp boosted its position in AtriCure by 11.2% in the fourth quarter. State Street Corp now owns 555,334 shares of the medical device company’s stock valued at $10,872,000 after buying an additional 55,938 shares during the period. Two Sigma Investments LP boosted its position in AtriCure by 118.3% in the fourth quarter. Two Sigma Investments LP now owns 26,343 shares of the medical device company’s stock valued at $516,000 after buying an additional 14,278 shares during the period. Teachers Advisors LLC boosted its position in 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 during the period. Peregrine Capital Management LLC boosted its position in AtriCure by 10.2% in the first quarter. Peregrine Capital Management LLC now owns 994,591 shares of the medical device company’s stock valued at $18,808,000 after buying an additional 92,071 shares during the period. Finally, Bank of Montreal Can boosted its position in 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 during the period. 86.46% of the stock is owned by hedge funds and other institutional investors.
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AtriCure (ATRC) traded down 0.47% during midday trading on Tuesday, reaching $23.47. The company’s stock had a trading volume of 154,237 shares. The stock has a 50 day moving average of $23.27 and a 200 day moving average of $19.94. AtriCure has a 52 week low of $13.45 and a 52 week high of $25.11. The firm’s market capitalization is $796.71 million.
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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