AtriCure, Inc. (NASDAQ:ATRC) Expected to Announce Earnings of -$0.33 Per Share

Wall Street analysts expect AtriCure, Inc. (NASDAQ:ATRC) to report earnings per share (EPS) of ($0.33) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for AtriCure’s earnings. The lowest EPS estimate is ($0.44) and the highest is ($0.25). AtriCure reported earnings of ($0.11) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 200%. The firm is expected to report its next earnings results on Thursday, November 4th.

On average, analysts expect that AtriCure will report full year earnings of ($1.36) per share for the current financial year, with EPS estimates ranging from ($1.60) to ($1.20). For the next fiscal year, analysts forecast that the company will post earnings of ($0.98) per share, with EPS estimates ranging from ($1.26) to ($0.75). Zacks’ earnings per share calculations are an average based on a survey of research firms that cover AtriCure.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, August 3rd. The medical device company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.06). AtriCure had a negative return on equity of 10.18% and a negative net margin of 23.31%. The business had revenue of $71.38 million during the quarter, compared to analysts’ expectations of $61.08 million. During the same period last year, the firm posted ($0.38) EPS. AtriCure’s quarterly revenue was up 74.8% compared to the same quarter last year.

A number of brokerages have weighed in on ATRC. Zacks Investment Research lowered AtriCure from a “hold” rating to a “sell” rating in a research report on Monday, August 9th. Canaccord Genuity boosted their target price on AtriCure from $102.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 5th. Stifel Nicolaus upped their price target on shares of AtriCure from $72.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, June 15th. Needham & Company LLC reduced their price target on shares of AtriCure from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, August 5th. Finally, Oppenheimer lowered shares of AtriCure from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, AtriCure has a consensus rating of “Buy” and a consensus price target of $87.33.

NASDAQ:ATRC traded down $2.99 during mid-day trading on Wednesday, reaching $73.72. The company’s stock had a trading volume of 717 shares, compared to its average volume of 335,560. AtriCure has a 12-month low of $34.04 and a 12-month high of $85.50. The firm’s fifty day moving average price is $77.31 and its two-hundred day moving average price is $73.42. The company has a current ratio of 3.50, a quick ratio of 2.94 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.38 billion, a P/E ratio of -60.40 and a beta of 1.04.

In other AtriCure news, insider Vinayak Doraiswamy sold 7,672 shares of the company’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $83.12, for a total value of $637,696.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Angela L. Wirick sold 5,939 shares of the company’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $80.21, for a total value of $476,367.19. Following the completion of the transaction, the chief financial officer now owns 77,941 shares of the company’s stock, valued at $6,251,647.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,999 shares of company stock valued at $5,811,183. 3.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of AtriCure by 24.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,196,214 shares of the medical device company’s stock valued at $332,886,000 after acquiring an additional 819,636 shares during the last quarter. BlackRock Inc. boosted its position in shares of AtriCure by 3.4% during the 1st quarter. BlackRock Inc. now owns 3,890,137 shares of the medical device company’s stock valued at $254,882,000 after acquiring an additional 127,539 shares during the last quarter. Fred Alger Management LLC boosted its position in shares of AtriCure by 11.6% during the 1st quarter. Fred Alger Management LLC now owns 3,193,417 shares of the medical device company’s stock valued at $209,233,000 after acquiring an additional 332,895 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of AtriCure by 15.8% during the 2nd quarter. Alliancebernstein L.P. now owns 2,831,538 shares of the medical device company’s stock valued at $224,626,000 after acquiring an additional 387,101 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its position in shares of AtriCure by 1.9% during the 1st quarter. Champlain Investment Partners LLC now owns 2,175,140 shares of the medical device company’s stock valued at $142,515,000 after acquiring an additional 39,560 shares during the last quarter. Institutional investors and hedge funds own 95.86% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc engages in the development, manufacture, and sale of devices designed primarily for the surgical ablation of cardiac tissue, and systems for the exclusion of the left atrial appendage. Its products include radio frequency (RF) ablation pacing and sensing, cryo, left atrial appendage management, soft tissue dissection, estech surgical instrumentation, and cart configuration.

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Earnings History and Estimates for AtriCure (NASDAQ:ATRC)

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