AtriCure (NASDAQ:ATRC) Updates FY 2022 Earnings Guidance

AtriCure (NASDAQ:ATRCGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of -$1.12–$1.07 for the period, compared to the consensus earnings per share estimate of -$1.10. The company issued revenue guidance of $323.00 million-$333.00 million, compared to the consensus revenue estimate of $324.43 million.

AtriCure Trading Up 4.2 %

NASDAQ ATRC traded up $2.04 during trading hours on Friday, reaching $50.94. The company had a trading volume of 282,625 shares, compared to its average volume of 268,683. The stock has a 50-day moving average of $42.52 and a 200 day moving average of $53.22. AtriCure has a 1-year low of $32.83 and a 1-year high of $89.18. The company has a current ratio of 4.21, a quick ratio of 3.35 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.36 billion, a P/E ratio of 43.91 and a beta of 1.20.

AtriCure (NASDAQ:ATRCGet Rating) last posted its earnings results on Tuesday, August 2nd. The medical device company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). AtriCure had a net margin of 17.62% and a negative return on equity of 11.34%. During the same quarter last year, the firm posted ($0.30) earnings per share. As a group, research analysts anticipate that AtriCure will post -1.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

ATRC has been the topic of a number of recent analyst reports. BTIG Research decreased their target price on shares of AtriCure from $94.00 to $75.00 and set a buy rating on the stock in a research report on Friday, June 24th. StockNews.com raised shares of AtriCure from a sell rating to a hold rating in a research report on Saturday, July 30th. Piper Sandler reduced their price target on shares of AtriCure from $90.00 to $55.00 and set an overweight rating on the stock in a research report on Wednesday. Needham & Company LLC increased their price target on shares of AtriCure from $55.00 to $65.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Stifel Nicolaus reduced their price target on shares of AtriCure from $70.00 to $50.00 in a research report on Monday, July 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $81.38.

Insider Buying and Selling

In related news, insider Tonya Austin sold 3,203 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $42.69, for a total transaction of $136,736.07. Following the sale, the insider now directly owns 17,621 shares in the company, valued at $752,240.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Several hedge funds have recently added to or reduced their stakes in ATRC. PNC Financial Services Group Inc. increased its stake in AtriCure by 47.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,975 shares of the medical device company’s stock valued at $392,000 after purchasing an additional 1,931 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new position in AtriCure in the first quarter valued at approximately $343,000. MetLife Investment Management LLC increased its stake in AtriCure by 54.8% in the first quarter. MetLife Investment Management LLC now owns 24,141 shares of the medical device company’s stock valued at $1,585,000 after purchasing an additional 8,549 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in AtriCure by 7.0% in the first quarter. Dimensional Fund Advisors LP now owns 717,125 shares of the medical device company’s stock valued at $47,092,000 after purchasing an additional 46,705 shares during the last quarter. Finally, Sei Investments Co. increased its stake in AtriCure by 0.5% in the first quarter. Sei Investments Co. now owns 94,103 shares of the medical device company’s stock valued at $6,182,000 after purchasing an additional 461 shares during the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Company Profile

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AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a 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 enable users to make longer linear lines of ablation.

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Earnings History and Estimates for AtriCure (NASDAQ:ATRC)

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