AtriCure (NASDAQ:ATRC) Releases FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of -0.800–0.740 for the period, compared to the consensus EPS estimate of -0.740. The company issued revenue guidance of $465.3 million-$465.3 million, compared to the consensus revenue estimate of $460.9 million. AtriCure also updated its FY 2025 guidance to EPS.

AtriCure Stock Performance

Shares of ATRC traded up $2.20 during trading hours on Monday, reaching $33.61. 133,875 shares of the company traded hands, compared to its average volume of 536,332. The stock’s fifty day moving average is $33.82 and its 200 day moving average is $28.56. The stock has a market cap of $1.64 billion, a P/E ratio of -40.49 and a beta of 1.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. AtriCure has a 1-year low of $18.94 and a 1-year high of $39.04.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The business had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Equities research analysts anticipate that AtriCure will post -0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ATRC has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $40.00 price target on shares of AtriCure in a research report on Tuesday, December 17th. Canaccord Genuity Group increased their price target on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Needham & Company LLC increased their price target on shares of AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer increased their price target on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, AtriCure currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

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.