AtriCure (NASDAQ:ATRC) Issues FY 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

ATRC has been the topic of several recent analyst reports. BTIG Research dropped their price target on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Needham & Company LLC raised their price objective on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Stifel Nicolaus decreased their price target on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.11.

AtriCure Trading Up 18.3 %

Shares of NASDAQ ATRC traded up $5.40 during midday trading on Wednesday, reaching $34.83. 2,740,555 shares of the stock were exchanged, compared to its average volume of 731,791. The company has a market capitalization of $1.66 billion, a P/E ratio of -44.50 and a beta of 1.44. The company has a current ratio of 4.13, a quick ratio of 2.93 and a debt-to-equity ratio of 0.16. AtriCure has a 52-week low of $18.94 and a 52-week high of $43.00. The stock has a 50 day moving average price of $27.46 and a 200-day moving average price of $24.30.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The company had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. During the same quarter in the previous year, the business earned ($0.20) EPS. The firm’s revenue was up 17.9% on a year-over-year basis. Equities research analysts expect that AtriCure will post -0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at AtriCure

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