Equities Analysts Set Expectations for AtriCure, Inc.’s Q1 2021 Earnings (NASDAQ:ATRC)
AtriCure, Inc. (NASDAQ:ATRC) – Oppenheimer boosted their Q1 2021 earnings per share estimates for shares of AtriCure in a note issued to investors on Monday, January 11th. Oppenheimer analyst S. Kalia now anticipates that the medical device company will post earnings of ($0.16) per share for the quarter, up from their prior estimate of ($0.20). Oppenheimer also issued estimates for AtriCure’s Q2 2021 earnings at ($0.16) EPS, Q4 2021 earnings at ($0.14) EPS and FY2021 earnings at ($0.59) EPS.
Several other equities research analysts have also issued reports on ATRC. Needham & Company LLC lifted their price target on shares of AtriCure from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, December 18th. ValuEngine cut shares of AtriCure from a “buy” rating to a “hold” rating in a report on Tuesday, January 5th. Zacks Investment Research downgraded shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Tuesday, January 5th. BidaskClub downgraded AtriCure from a “buy” rating to a “hold” rating in a research report on Thursday, December 31st. Finally, SVB Leerink raised their price objective on AtriCure from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, December 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $54.63.
AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, November 10th. The medical device company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.23. AtriCure had a negative net margin of 21.74% and a negative return on equity of 14.83%. The firm had revenue of $54.80 million for the quarter, compared to analyst estimates of $49.37 million. During the same period in the previous year, the business earned ($0.33) EPS. The company’s revenue was down 3.2% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the business. IFP Advisors Inc increased its stake in AtriCure by 42.2% during the 3rd quarter. IFP Advisors Inc now owns 1,035 shares of the medical device company’s stock worth $40,000 after acquiring an additional 307 shares during the period. Nisa Investment Advisors LLC bought a new position in AtriCure during the 3rd quarter worth $48,000. HighMark Wealth Management LLC increased its stake in AtriCure by 1,285.9% during the 3rd quarter. HighMark Wealth Management LLC now owns 2,841 shares of the medical device company’s stock worth $78,000 after acquiring an additional 2,636 shares during the period. US Bancorp DE increased its stake in AtriCure by 9.7% during the 3rd quarter. US Bancorp DE now owns 3,257 shares of the medical device company’s stock worth $130,000 after acquiring an additional 287 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in AtriCure by 35.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 3,162 shares of the medical device company’s stock worth $141,000 after acquiring an additional 827 shares during the period. Hedge funds and other institutional investors own 94.70% of the company’s stock.
In other news, Director Scott William Drake purchased 12,350 shares of the company’s stock in a transaction that occurred on Tuesday, November 17th. The stock was acquired at an average cost of $40.54 per share, with a total value of $500,669.00. Following the acquisition, the director now owns 41,036 shares in the company, valued at approximately $1,663,599.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael H. Carrel sold 75,000 shares of AtriCure stock in a transaction that occurred on Thursday, December 17th. The stock was sold at an average price of $51.00, for a total value of $3,825,000.00. Following the sale, the chief executive officer now directly owns 529,504 shares of the company’s stock, valued at $27,004,704. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,514 shares of company stock valued at $9,830,096. Insiders own 5.80% of the company’s stock.
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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