AtriCure Inc. (ATRC) Expected to Post Quarterly Sales of $45.45 Million

Wall Street brokerages expect AtriCure Inc. (NASDAQ:ATRC) to post sales of $45.45 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for AtriCure’s earnings, with estimates ranging from $44.90 million to $46.00 million. AtriCure reported sales of $41.16 million in the same quarter last year, which indicates a positive year over year growth rate of 10.4%. The company is expected to issue its next earnings report after the market closes on Monday, February 26th.

According to Zacks, analysts expect that AtriCure will report full year sales of $45.45 million for the current year, with estimates ranging from $173.60 million to $174.70 million. For the next fiscal year, analysts forecast that the firm will report sales of $194.55 million per share, with estimates ranging from $194.10 million to $195.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover AtriCure.

A number of equities analysts recently issued reports on ATRC shares. Piper Jaffray Companies restated a “buy” rating and issued a $24.00 target price on shares of AtriCure in a research note on Sunday, December 10th. TheStreet lowered AtriCure from a “c-” rating to a “d+” rating in a research note on Wednesday, November 29th. ValuEngine lowered AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. Canaccord Genuity reduced their target price on AtriCure from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Finally, Needham & Company LLC reduced their target price on AtriCure from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.33.

AtriCure (NASDAQ ATRC) opened at $15.31 on Monday. The stock has a market capitalization of $527.80, a price-to-earnings ratio of -15.01 and a beta of 0.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.28 and a quick ratio of 1.65. AtriCure has a 52 week low of $14.88 and a 52 week high of $25.18.

In other AtriCure news, CFO M. Andrew Wade sold 2,000 shares of AtriCure stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $18.41, for a total transaction of $36,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 10.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC raised its stake in shares of AtriCure by 13.2% during the 4th quarter. Citadel Advisors LLC now owns 378,639 shares of the medical device company’s stock valued at $6,906,000 after buying an additional 44,074 shares during the last quarter. Royce & Associates LP raised its stake in shares of AtriCure by 3.8% during the 4th quarter. Royce & Associates LP now owns 290,799 shares of the medical device company’s stock valued at $5,304,000 after buying an additional 10,599 shares during the last quarter. BlackRock Inc. raised its stake in shares of AtriCure by 22.1% during the 4th quarter. BlackRock Inc. now owns 2,731,558 shares of the medical device company’s stock valued at $49,823,000 after buying an additional 494,306 shares during the last quarter. Capital Fund Management S.A. raised its stake in shares of AtriCure by 57.3% during the 4th quarter. Capital Fund Management S.A. now owns 15,100 shares of the medical device company’s stock valued at $275,000 after buying an additional 5,500 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of AtriCure by 81.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 45,346 shares of the medical device company’s stock valued at $827,000 after buying an additional 20,345 shares during the last quarter. Institutional investors and hedge funds own 86.41% of the company’s stock.

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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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