AtriCure (NASDAQ:ATRC) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

AtriCure (NASDAQ:ATRC) issued its quarterly earnings results on Wednesday. The medical device company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07, Zacks reports. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%.

AtriCure Stock Performance

Shares of AtriCure stock traded up $0.87 during midday trading on Wednesday, hitting $42.38. The company had a trading volume of 336,133 shares, compared to its average volume of 574,980. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.11. The company has a fifty day simple moving average of $35.39 and a 200 day simple moving average of $31.09. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -51.06 and a beta of 1.46.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Canaccord Genuity Group increased their target price on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. increased their target price on shares of AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday. JMP Securities reiterated a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research note on Monday. 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 report on Wednesday, October 30th. Finally, Needham & Company LLC raised their target price on shares of AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.44.

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.