$44.23 Million in Sales Expected for AtriCure, Inc. (ATRC) This Quarter
Wall Street brokerages forecast that AtriCure, Inc. (NASDAQ:ATRC) will post $44.23 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for AtriCure’s earnings, with estimates ranging from $43.90 million to $44.80 million. AtriCure posted sales of $39.67 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.5%. The company is scheduled to announce its next earnings report after the market closes on Thursday, July 27th.
On average, analysts expect that AtriCure will report full-year sales of $44.23 million for the current financial year, with estimates ranging from $175.60 million to $177.30 million. For the next fiscal year, analysts anticipate that the firm will post sales of $203.57 million per share, with estimates ranging from $200.20 million to $206.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for AtriCure.
AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Thursday, May 4th. The medical device company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.01. The company had revenue of $41.30 million during the quarter, compared to analysts’ expectations of $40.25 million. AtriCure had a negative net margin of 21.07% and a negative return on equity of 19.89%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.31) EPS.
A number of research firms have recently weighed in on ATRC. Zacks Investment Research upgraded shares of AtriCure from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Tuesday, May 9th. TheStreet upgraded shares of AtriCure from a “d+” rating to a “c-” rating in a report on Monday, May 15th. Canaccord Genuity restated a “buy” rating and set a $22.00 price target on shares of AtriCure in a report on Monday, April 17th. ValuEngine upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $26.00 price target on shares of AtriCure in a report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. AtriCure presently has a consensus rating of “Buy” and an average target price of $22.60.
In related news, Director Elizabeth D. Krell sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $21.44, for a total value of $214,400.00. Following the transaction, the director now directly owns 24,162 shares in the company, valued at approximately $518,033.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in AtriCure by 131.9% in the first quarter. Wells Fargo & Company MN now owns 112,006 shares of the medical device company’s stock worth $2,145,000 after buying an additional 63,711 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in AtriCure during the first quarter valued at about $329,000. Bank of Montreal Can raised its stake 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 in the last quarter. State Street Corp raised its stake 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 in the last quarter. Finally, Keybank National Association OH raised its stake in AtriCure by 5.1% in the first quarter. Keybank National Association OH now owns 38,902 shares of the medical device company’s stock valued at $745,000 after buying an additional 1,905 shares in the last quarter. Institutional investors and hedge funds own 86.46% of the company’s stock.
AtriCure (NASDAQ ATRC) traded up 0.30% during trading on Thursday, reaching $23.21. 86,634 shares of the company’s stock were exchanged. AtriCure has a 1-year low of $13.45 and a 1-year high of $25.11. The company’s market capitalization is $787.89 million. The company’s 50-day moving average is $23.40 and its 200-day moving average is $20.00.
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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