AtriCure, Inc. (ATRC) Announces Earnings Results
AtriCure, Inc. (NASDAQ:ATRC) announced its quarterly earnings results on Wednesday. The medical device company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02, Briefing.com reports. The company had revenue of $42.20 million during the quarter, compared to the consensus estimate of $43.44 million. AtriCure had a negative return on equity of 19.56% and a negative net margin of 19.56%. AtriCure’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) EPS. AtriCure updated its FY17 guidance to ($1.04)-($0.94) EPS.
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In related news, Director Elizabeth D. Krell sold 10,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $22.40, for a total transaction of $224,000.00. Following the sale, the director now owns 29,967 shares in the company, valued at $671,260.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 10.00% of the company’s stock.
A number of research firms have recently commented on ATRC. Stifel Nicolaus reiterated a “buy” rating and set a $25.00 target price on shares of AtriCure in a research report on Sunday, July 30th. BidaskClub cut AtriCure from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Canaccord Genuity reiterated a “buy” rating and set a $28.00 target price on shares of AtriCure in a research report on Monday, October 9th. Zacks Investment Research upgraded AtriCure from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price (up previously from $25.00) on shares of AtriCure in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $25.00.
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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