AtriCure (NASDAQ:ATRC) Releases FY 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Stifel Nicolaus reduced their price target on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their target price on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Piper Sandler decreased their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reduced their price objective on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.44.

AtriCure Trading Up 2.4 %

Shares of NASDAQ ATRC traded up $0.68 during midday trading on Tuesday, hitting $29.43. 1,160,700 shares of the company traded hands, compared to its average volume of 722,135. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.00. The firm has a market cap of $1.40 billion, a P/E ratio of -35.94 and a beta of 1.44. The stock has a 50-day moving average price of $27.35 and a 200 day moving average price of $24.26. 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 (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.17). The business had revenue of $116.27 million during the quarter, compared to the consensus estimate of $116.24 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.12) earnings per share. As a group, analysts expect that AtriCure will post -0.77 earnings per share for the current year.

Insider Activity at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by insiders.

AtriCure Company Profile

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.