AtriCure (NASDAQ:ATRC) Releases 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.

AtriCure Stock Down 4.7 %

ATRC traded down $1.65 during trading on Thursday, hitting $33.18. The stock had a trading volume of 844,408 shares, compared to its average volume of 732,325. The stock has a 50 day simple moving average of $27.68 and a two-hundred day simple moving average of $24.37. 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 company has a market capitalization of $1.62 billion, a PE ratio of -39.98 and a beta of 1.44.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.02. The business 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 8.39% and a negative net margin of 9.33%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.20) earnings per share. On average, research analysts predict that AtriCure will post -0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ATRC. BTIG Research cut their price objective 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. Canaccord Genuity Group increased their price target on shares of AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday. Piper Sandler cut their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, 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. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.11.

Insider Transactions at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction that occurred on 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 owns 8,970 shares of the company’s stock, valued at $215,907.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.

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.