-$0.33 EPS Expected for AtriCure Inc. (ATRC) This Quarter
Wall Street brokerages predict that AtriCure Inc. (NASDAQ:ATRC) will post ($0.33) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for AtriCure’s earnings, with the lowest EPS estimate coming in at ($0.37) and the highest estimate coming in at ($0.26). AtriCure posted earnings of ($0.31) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.5%. The business is scheduled to issue its next earnings report after the market closes on Thursday, May 4th.
According to Zacks, analysts expect that AtriCure will report full-year earnings of ($1.01) per share for the current financial year, with EPS estimates ranging from ($1.09) to ($0.89). For the next year, analysts forecast that the firm will post earnings of ($0.65) per share, with EPS estimates ranging from ($0.80) to ($0.44). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow AtriCure.
AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Tuesday, February 28th. The medical device company reported ($0.27) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.05. The company had revenue of $41.20 million for the quarter, compared to the consensus estimate of $41.17 million. AtriCure had a negative net margin of 23.78% and a negative return on equity of 19.84%. AtriCure’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.36) earnings per share.
Several equities analysts recently commented on ATRC shares. Canaccord Genuity reiterated a “buy” rating and set a $22.00 target price on shares of AtriCure in a research note on Monday. Northland Securities reiterated a “buy” rating and set a $24.00 target price on shares of AtriCure in a research note on Monday, March 20th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of AtriCure in a research note on Wednesday, March 1st. Zacks Investment Research cut shares of AtriCure from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th. Finally, BTIG Research cut shares of AtriCure from a “buy” rating to a “neutral” rating in a research note on Monday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $21.25.
Shares of AtriCure (NASDAQ:ATRC) traded down 0.56% during trading on Tuesday, hitting $19.58. 39,073 shares of the stock were exchanged. The stock’s market cap is $652.76 million. AtriCure has a 12-month low of $13.44 and a 12-month high of $20.40. The stock’s 50 day moving average is $18.83 and its 200-day moving average is $17.95.
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In other news, SVP Andrew L. Lux sold 20,000 shares of the stock in a transaction on Friday, March 17th. The shares were sold at an average price of $18.85, for a total value of $377,000.00. Following the completion of the transaction, the senior vice president now owns 85,589 shares in the company, valued at approximately $1,613,352.65. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 10.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its position in shares of AtriCure by 1.2% in the first quarter. Bank of Montreal Can now owns 10,462 shares of the medical device company’s stock worth $200,000 after buying an additional 128 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of AtriCure by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 71,668 shares of the medical device company’s stock worth $1,403,000 after buying an additional 1,520 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its position in shares of AtriCure by 1.6% in the third quarter. Paradigm Capital Management Inc. NY now owns 334,425 shares of the medical device company’s stock worth $5,291,000 after buying an additional 5,200 shares in the last quarter. First Light Asset Management LLC boosted its position in shares of AtriCure by 1.0% in the fourth quarter. First Light Asset Management LLC now owns 939,012 shares of the medical device company’s stock worth $18,376,000 after buying an additional 9,136 shares in the last quarter. Finally, Perkins Capital Management Inc. boosted its position in shares of AtriCure by 7.4% in the first quarter. Perkins Capital Management Inc. now owns 137,217 shares of the medical device company’s stock worth $2,628,000 after buying an additional 9,467 shares in the last quarter. Institutional investors own 79.30% of the company’s stock.
AtriCure Company Profile
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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