AtriCure (NASDAQ:ATRC) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

AtriCure (NASDAQ:ATRC) issued its quarterly earnings data on Tuesday. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02, Briefing.com reports. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.14%. The business had revenue of $115.91 million for the quarter, compared to the consensus estimate of $112.23 million. During the same period in the previous year, the firm earned ($0.20) EPS. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. AtriCure updated its FY 2024 guidance to -0.800–0.740 EPS.

AtriCure Stock Down 4.7 %

NASDAQ:ATRC opened at $33.18 on Friday. 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 fifty-two week low of $18.94 and a fifty-two week high of $43.00. The firm has a 50-day simple moving average of $27.86 and a two-hundred day simple moving average of $24.43.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Needham & Company LLC increased their target price on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group lifted their price target on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus decreased their price objective on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.11.

Insider Transactions at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the completion of the sale, the director now owns 8,970 shares of the company’s stock, valued at $215,907.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.