Piper Sandler Equities Analysts Increase Earnings Estimates for AtriCure Inc. (NASDAQ:ATRC)

AtriCure Inc. (NASDAQ:ATRC) – Investment analysts at Piper Sandler upped their FY2020 earnings per share estimates for AtriCure in a research report issued on Tuesday, July 28th. Piper Sandler analyst M. O’brien now expects that the medical device company will post earnings of ($1.36) per share for the year, up from their previous estimate of ($1.56). Piper Sandler has a “Overweight” rating and a $50.00 price objective on the stock. Piper Sandler also issued estimates for AtriCure’s Q4 2020 earnings at ($0.25) EPS, Q1 2021 earnings at ($0.33) EPS, Q2 2021 earnings at ($0.30) EPS, Q4 2021 earnings at ($0.18) EPS, FY2021 earnings at ($1.06) EPS, Q1 2022 earnings at ($0.28) EPS, Q2 2022 earnings at ($0.26) EPS and FY2022 earnings at ($0.91) EPS.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, July 28th. The medical device company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.21. AtriCure had a negative net margin of 23.64% and a negative return on equity of 19.55%. The firm had revenue of $40.82 million for the quarter, compared to analyst estimates of $36.07 million. During the same quarter in the previous year, the business posted ($0.17) EPS. The firm’s revenue was down 30.7% compared to the same quarter last year.

Several other equities research analysts also recently weighed in on the stock. Oppenheimer boosted their target price on shares of AtriCure from $45.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. BidaskClub downgraded shares of AtriCure from a “hold” rating to a “sell” rating in a research report on Friday, July 10th. SVB Leerink boosted their target price on shares of AtriCure from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday. BTIG Research reissued a “buy” rating and issued a $56.00 target price on shares of AtriCure in a research report on Tuesday, July 28th. Finally, Zacks Investment Research downgraded shares of AtriCure from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $48.90.

Shares of ATRC stock opened at $40.81 on Friday. AtriCure has a 12 month low of $22.57 and a 12 month high of $51.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.67 and a quick ratio of 2.43. The firm has a market capitalization of $1.83 billion, a P/E ratio of -31.64 and a beta of 0.81. The company’s fifty day moving average price is $44.89 and its two-hundred day moving average price is $40.87.

In related news, Director Mark A. Collar sold 4,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $44.60, for a total transaction of $178,400.00. Following the completion of the sale, the director now owns 81,558 shares of the company’s stock, valued at approximately $3,637,486.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael H. Carrel sold 25,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $46.00, for a total transaction of $1,150,000.00. Following the sale, the chief executive officer now directly owns 539,147 shares of the company’s stock, valued at approximately $24,800,762. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,000 shares of company stock valued at $2,453,400. Insiders own 5.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ATRC. Fred Alger Management LLC acquired a new position in AtriCure during the 1st quarter valued at about $42,438,000. Invesco Ltd. boosted its stake in AtriCure by 348.9% during the 1st quarter. Invesco Ltd. now owns 1,535,792 shares of the medical device company’s stock valued at $51,587,000 after purchasing an additional 1,193,689 shares during the period. Orbimed Advisors LLC boosted its stake in AtriCure by 450.5% during the 1st quarter. Orbimed Advisors LLC now owns 928,189 shares of the medical device company’s stock valued at $31,178,000 after purchasing an additional 759,568 shares during the period. Champlain Investment Partners LLC boosted its stake in AtriCure by 35.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,693,225 shares of the medical device company’s stock valued at $56,875,000 after purchasing an additional 443,585 shares during the period. Finally, Perceptive Advisors LLC acquired a new position in AtriCure during the 1st quarter valued at about $10,152,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

About AtriCure

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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Earnings History and Estimates for AtriCure (NASDAQ:ATRC)

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