AtriCure (NASDAQ:ATRC) Updates FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of -0.800–0.740 for the period, compared to the consensus earnings per share estimate of -0.790. The company issued revenue guidance of $459.0 million-$462.0 million, compared to the consensus revenue estimate of $458.1 million.

Analyst Upgrades and Downgrades

A number of research firms have commented on ATRC. UBS Group lifted their price objective on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. BTIG Research lowered their target price on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Piper Sandler cut their target price on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their price target on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.11.

AtriCure Stock Up 18.3 %

Shares of NASDAQ ATRC traded up $5.40 during mid-day trading on Wednesday, reaching $34.83. The company had a trading volume of 2,740,555 shares, compared to its average volume of 731,791. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.00. The stock’s 50 day moving average is $27.46 and its 200-day moving average is $24.30. The stock has a market capitalization of $1.66 billion, a PE ratio of -44.50 and a beta of 1.44.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The company had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. During the same quarter in the prior year, the business posted ($0.20) EPS. AtriCure’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, equities analysts anticipate that AtriCure will post -0.77 earnings per share for the current fiscal year.

Insider Transactions at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the transaction, the director now directly owns 8,970 shares in the company, valued at $215,907.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.20% of the stock is owned by corporate insiders.

AtriCure Company Profile

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.