-$0.21 EPS Expected for AtriCure Inc. (ATRC) This Quarter

Brokerages expect AtriCure Inc. (NASDAQ:ATRC) to report earnings per share (EPS) of ($0.21) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for AtriCure’s earnings. The lowest EPS estimate is ($0.25) and the highest is ($0.17). AtriCure reported earnings of ($0.27) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 22.2%. The firm is expected to announce its next earnings results on Tuesday, February 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 ($0.92). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.72) per share, with EPS estimates ranging from ($0.86) to ($0.61). Zacks’ earnings per share calculations are an average based on a survey of analysts that follow AtriCure.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Wednesday, November 1st. The medical device company reported ($0.22) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. The firm had revenue of $42.20 million for the quarter, compared to analyst estimates of $43.44 million. AtriCure had a negative return on equity of 20.28% and a negative net margin of 19.40%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.21) earnings per share.

Several research firms have issued reports on ATRC. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target (down previously from $25.00) on shares of AtriCure in a research note on Tuesday, January 16th. Zacks Investment Research downgraded AtriCure from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Canaccord Genuity dropped their price target on AtriCure from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd. TheStreet downgraded AtriCure from a “c-” rating to a “d+” rating in a research note on Wednesday, November 29th. Finally, ValuEngine downgraded AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. AtriCure currently has an average rating of “Hold” and an average price target of $24.33.

AtriCure (ATRC) traded down $0.03 during mid-day trading on Wednesday, reaching $17.91. The company’s stock had a trading volume of 103,300 shares, compared to its average volume of 188,733. The company has a current ratio of 2.28, a quick ratio of 1.65 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $618.47, a price-to-earnings ratio of -17.56 and a beta of 0.66. AtriCure has a 52-week low of $15.08 and a 52-week high of $25.18.

In related news, Director B Kristine Johnson bought 1,500 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were acquired at an average price of $18.36 per share, with a total value of $27,540.00. Following the completion of the transaction, the director now owns 10,969 shares in the company, valued at $201,390.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO M. Andrew Wade sold 2,000 shares of AtriCure stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $18.41, for a total value of $36,820.00. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in AtriCure by 3.8% during the second quarter. Legal & General Group Plc now owns 8,528 shares of the medical device company’s stock worth $208,000 after buying an additional 312 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in AtriCure during the third quarter worth approximately $205,000. Tudor Investment Corp ET AL acquired a new position in AtriCure during the second quarter worth approximately $253,000. UBS Asset Management Americas Inc. acquired a new position in AtriCure during the second quarter worth approximately $315,000. Finally, Voya Investment Management LLC increased its position in AtriCure by 7.9% during the second quarter. Voya Investment Management LLC now owns 17,158 shares of the medical device company’s stock worth $416,000 after buying an additional 1,250 shares during the last quarter. 86.49% of the stock is currently owned by institutional investors and hedge funds.

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About AtriCure

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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