-$0.33 EPS Expected for AtriCure Inc. (ATRC) This Quarter
Equities research analysts expect that AtriCure Inc. (NASDAQ:ATRC) will post earnings per share of ($0.33) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for AtriCure’s earnings, with the lowest EPS estimate coming in at ($0.37) and the highest estimate coming in at ($0.26). AtriCure reported earnings of ($0.31) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 6.5%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, May 4th.
On average, analysts expect that AtriCure will report full year earnings of ($1.01) per share for the current financial year, with EPS estimates ranging from ($1.09) to ($0.89). For the next year, analysts anticipate that the firm will report earnings of ($0.65) per share, with EPS estimates ranging from ($0.80) to ($0.44). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow AtriCure.
AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Tuesday, February 28th. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.05. The company had revenue of $41.20 million for the quarter, compared to analysts’ expectations of $41.17 million. AtriCure had a negative net margin of 23.78% and a negative return on equity of 19.84%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.36) EPS.
ATRC has been the subject of a number of research reports. Zacks Investment Research cut AtriCure from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $20.00 price target on shares of AtriCure in a research note on Monday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of AtriCure in a research note on Wednesday, March 1st. BTIG Research cut shares of AtriCure from a “buy” rating to a “neutral” rating in a research note on Monday, March 6th. Finally, Northland Securities reaffirmed a “buy” rating and set a $24.00 price target on shares of AtriCure in a research note on Monday, March 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. AtriCure presently has a consensus rating of “Buy” and a consensus price target of $21.25.
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Shares of AtriCure (NASDAQ:ATRC) traded down 0.56% during trading on Tuesday, hitting $19.58. 39,073 shares of the stock traded hands. AtriCure has a 1-year low of $13.44 and a 1-year high of $20.40. The company has a 50 day moving average of $18.83 and a 200-day moving average of $17.95. The company’s market cap is $652.76 million.
In other news, SVP Andrew L. Lux sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $18.85, for a total transaction of $377,000.00. Following the completion of the transaction, the senior vice president now directly owns 85,589 shares of the company’s stock, valued at approximately $1,613,352.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.00% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Perkins Capital Management Inc. boosted its position in shares of AtriCure by 7.4% in the first quarter. Perkins Capital Management Inc. now owns 137,217 shares of the medical device company’s stock valued at $2,628,000 after buying an additional 9,467 shares in the last quarter. Skylands Capital LLC boosted its position in shares of AtriCure by 269.2% in the first quarter. Skylands Capital LLC now owns 53,350 shares of the medical device company’s stock valued at $1,022,000 after buying an additional 38,900 shares in the last quarter. Bank of Montreal Can boosted its position in shares of AtriCure by 1.2% in the first quarter. Bank of Montreal Can now owns 10,462 shares of the medical device company’s stock valued at $200,000 after buying an additional 128 shares in the last quarter. Peregrine Capital Management LLC boosted its position in shares of AtriCure by 10.2% in the first quarter. Peregrine Capital Management LLC now owns 994,591 shares of the medical device company’s stock valued at $18,808,000 after buying an additional 92,071 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of AtriCure by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 71,668 shares of the medical device company’s stock valued at $1,403,000 after buying an additional 1,520 shares in the last quarter. 79.30% of the stock is owned by institutional investors.
AtriCure Company Profile
AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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