AtriCure (NASDAQ:ATRC) Releases FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of -0.800–0.740 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

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

AtriCure Trading Up 9.5 %

Shares of ATRC stock opened at $34.39 on Tuesday. AtriCure has a 52-week low of $18.94 and a 52-week high of $39.04. The company has a 50-day simple moving average of $33.83 and a two-hundred day simple moving average of $28.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -41.43 and a beta of 1.42.

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

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.