Acutus Medical, Inc. (NASDAQ:AFIB) Expected to Post Earnings of -$0.92 Per Share

Equities analysts expect Acutus Medical, Inc. (NASDAQ:AFIB) to post earnings of ($0.92) per share for the current quarter, according to Zacks. Two analysts have provided estimates for Acutus Medical’s earnings, with the highest EPS estimate coming in at ($0.86) and the lowest estimate coming in at ($0.97). Acutus Medical posted earnings per share of ($0.91) in the same quarter last year, which would suggest a negative year over year growth rate of 1.1%. The company is expected to report its next earnings report on Thursday, November 11th.

According to Zacks, analysts expect that Acutus Medical will report full-year earnings of ($3.78) per share for the current year, with EPS estimates ranging from ($3.90) to ($3.65). For the next fiscal year, analysts anticipate that the business will report earnings of ($2.68) per share, with EPS estimates ranging from ($2.86) to ($2.49). Zacks’ EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Acutus Medical.

Acutus Medical (NASDAQ:AFIB) last issued its earnings results on Wednesday, August 11th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.02). The business had revenue of $4.71 million for the quarter, compared to the consensus estimate of $4.65 million. Acutus Medical had a negative return on equity of 100.30% and a negative net margin of 844.29%.

A number of research analysts have recently commented on the company. Canaccord Genuity upgraded Acutus Medical from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Thursday, July 15th. Zacks Investment Research lowered Acutus Medical from a “buy” rating to a “hold” rating in a research note on Wednesday, July 14th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.60.

Acutus Medical stock traded down $0.41 during mid-day trading on Friday, reaching $8.56. The stock had a trading volume of 5,058 shares, compared to its average volume of 336,182. Acutus Medical has a one year low of $7.55 and a one year high of $34.35. The company has a market capitalization of $296.24 million and a price-to-earnings ratio of -1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.72 and a quick ratio of 4.89. The company has a 50-day moving average price of $11.29 and a two-hundred day moving average price of $13.56.

In other Acutus Medical news, Director Orbimed Advisors Llc acquired 1,071,428 shares of Acutus Medical stock in a transaction on Monday, July 19th. The shares were purchased at an average cost of $14.00 per share, with a total value of $14,999,992.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 24.40% of the company’s stock.

Several large investors have recently bought and sold shares of AFIB. S.A. Mason LLC purchased a new stake in shares of Acutus Medical in the third quarter valued at about $126,000. Parametric Portfolio Associates LLC bought a new stake in shares of Acutus Medical during the 2nd quarter valued at $864,000. Morgan Stanley boosted its stake in Acutus Medical by 435.6% in the 2nd quarter. Morgan Stanley now owns 20,697 shares of the company’s stock worth $352,000 after purchasing an additional 16,833 shares in the last quarter. Millennium Management LLC raised its position in Acutus Medical by 124.7% in the 2nd quarter. Millennium Management LLC now owns 381,192 shares of the company’s stock worth $6,473,000 after buying an additional 211,545 shares during the last quarter. Finally, Balyasny Asset Management LLC purchased a new position in Acutus Medical in the 2nd quarter worth about $506,000. 67.87% of the stock is currently owned by institutional investors.

Acutus Medical Company Profile

Acutus Medical, Inc, an arrhythmia management company, designs, manufactures, and markets a range of tools for catheter-based ablation procedures to treat various arrhythmias in the United States and internationally. Its product portfolio includes novel access sheaths, transseptal crossing tools, diagnostic and mapping catheters, conventional and contact force ablation catheters, and mapping and imaging consoles and accessories, as well as supporting algorithms and software programs.

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Earnings History and Estimates for Acutus Medical (NASDAQ:AFIB)

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