AtriCure (NASDAQ:ATRC) Issues FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of -0.800–0.740 for the period, compared to the consensus estimate of -0.740. The company issued revenue guidance of $465.3 million-$465.3 million, compared to the consensus revenue estimate of $460.9 million. AtriCure also updated its FY 2025 guidance to EPS.

AtriCure Trading Up 0.9 %

Shares of ATRC stock opened at $34.69 on Wednesday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -41.80 and a beta of 1.42. The company’s fifty day simple moving average is $33.82 and its two-hundred day simple moving average is $28.72. AtriCure has a 1 year low of $18.94 and a 1 year high of $39.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The business had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.20) EPS. As a group, analysts anticipate that AtriCure will post -0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

ATRC has been the topic of several recent analyst reports. Canaccord Genuity Group increased their target price on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $40.00 price objective on shares of AtriCure in a research note on Tuesday, December 17th. Oppenheimer upped their target price on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group lifted their price target on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of AtriCure in a research note on Monday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, AtriCure currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.