Brokerages expect AtriCure Inc. (NASDAQ:ATRC) to report sales of $57.58 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for AtriCure’s earnings, with estimates ranging from $57.40 million to $57.82 million. AtriCure posted sales of $51.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, July 30th.
On average, analysts expect that AtriCure will report full-year sales of $226.29 million for the current year, with estimates ranging from $225.95 million to $226.69 million. For the next financial year, analysts forecast that the company will report sales of $254.46 million, with estimates ranging from $252.11 million to $256.20 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for AtriCure.
AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Thursday, April 25th. The medical device company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.04. AtriCure had a negative net margin of 7.98% and a negative return on equity of 14.35%. The business had revenue of $53.97 million during the quarter, compared to analyst estimates of $52.45 million. During the same period in the prior year, the business posted ($0.31) earnings per share. The company’s revenue was up 14.9% on a year-over-year basis.
Several equities analysts recently weighed in on the company. ValuEngine upgraded WPP from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Northland Securities reaffirmed a “hold” rating on shares of Lendingtree in a research report on Friday, April 26th. BTIG Research initiated coverage on GrubHub in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $95.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price target (up previously from $115.00) on shares of Synopsys in a research report on Thursday, March 28th. Finally, BidaskClub raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $36.67.
In other AtriCure news, CEO Michael H. Carrel sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $32.00, for a total transaction of $800,000.00. Following the transaction, the chief executive officer now owns 661,103 shares of the company’s stock, valued at approximately $21,155,296. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Justin J. Noznesky sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $30.00, for a total value of $450,000.00. Following the transaction, the senior vice president now directly owns 119,068 shares in the company, valued at approximately $3,572,040. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,554 shares of company stock worth $1,866,620. 8.00% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of ATRC. Tibra Equities Europe Ltd purchased a new position in AtriCure in the first quarter worth about $370,000. D. E. Shaw & Co. Inc. boosted its stake in AtriCure by 55.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 270,915 shares of the medical device company’s stock worth $8,290,000 after purchasing an additional 96,176 shares during the last quarter. American International Group Inc. boosted its stake in AtriCure by 9.1% during the 4th quarter. American International Group Inc. now owns 24,272 shares of the medical device company’s stock worth $743,000 after purchasing an additional 2,027 shares during the last quarter. Northern Trust Corp boosted its stake in AtriCure by 9.1% during the 4th quarter. Northern Trust Corp now owns 489,179 shares of the medical device company’s stock worth $14,969,000 after purchasing an additional 40,760 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in AtriCure by 81.0% during the 4th quarter. Two Sigma Investments LP now owns 86,938 shares of the medical device company’s stock worth $2,660,000 after purchasing an additional 38,909 shares during the last quarter. 89.34% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ ATRC traded down $0.34 during trading hours on Friday, hitting $31.15. 129,581 shares of the company’s stock were exchanged, compared to its average volume of 201,026. The stock has a 50 day simple moving average of $30.34. AtriCure has a 12-month low of $26.11 and a 12-month high of $36.49. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -33.14 and a beta of 0.27. The company has a quick ratio of 3.69, a current ratio of 4.37 and a debt-to-equity ratio of 0.19.
AtriCure Company Profile
AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.
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