Acutus Medical, Inc. (NASDAQ:AFIB) Expected to Announce Quarterly Sales of $3.87 Million

Wall Street analysts predict that Acutus Medical, Inc. (NASDAQ:AFIB – Get Rating) will announce sales of $3.87 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Acutus Medical’s earnings. The lowest sales estimate is $3.80 million and the highest is $3.94 million. Acutus Medical reported sales of $4.71 million during the same quarter last year, which would suggest a negative year over year growth rate of 17.8%. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Acutus Medical will report full year sales of $17.11 million for the current financial year, with estimates ranging from $16.62 million to $17.60 million. For the next fiscal year, analysts expect that the firm will report sales of $22.96 million, with estimates ranging from $21.00 million to $24.92 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Acutus Medical.

Acutus Medical (NASDAQ:AFIB – Get Rating) last issued its quarterly earnings data on Wednesday, March 30th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.21). Acutus Medical had a negative return on equity of 127.21% and a negative net margin of 740.61%. The company had revenue of $4.36 million for the quarter, compared to analysts’ expectations of $4.30 million.

A number of equities analysts have recently weighed in on AFIB shares. William Blair reaffirmed a “market perform” rating on shares of Acutus Medical in a research note on Thursday, March 31st. Zacks Investment Research raised shares of Acutus Medical from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. Finally, BTIG Research raised shares of Acutus Medical from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.60.

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of Acutus Medical by 120.7% during the 2nd quarter. Royal Bank of Canada now owns 3,743 shares of the company’s stock worth $64,000 after acquiring an additional 2,047 shares during the period. Deutsche Bank AG raised its holdings in Acutus Medical by 24.1% in the third quarter. Deutsche Bank AG now owns 11,358 shares of the company’s stock valued at $100,000 after buying an additional 2,203 shares during the period. Dimensional Fund Advisors LP purchased a new position in Acutus Medical in the fourth quarter valued at approximately $37,000. Wells Fargo & Company MN raised its holdings in Acutus Medical by 241.0% in the fourth quarter. Wells Fargo & Company MN now owns 15,866 shares of the company’s stock valued at $54,000 after buying an additional 11,213 shares during the period. Finally, HighTower Advisors LLC raised its holdings in Acutus Medical by 16.7% in the third quarter. HighTower Advisors LLC now owns 80,498 shares of the company’s stock valued at $711,000 after buying an additional 11,500 shares during the period. Institutional investors own 62.97% of the company’s stock.

AFIB traded down $0.06 during trading on Friday, hitting $0.69. The stock had a trading volume of 463,904 shares, compared to its average volume of 1,445,935. The company has a debt-to-equity ratio of 0.59, a quick ratio of 5.01 and a current ratio of 6.03. The firm has a market capitalization of $19.46 million, a P/E ratio of -0.16 and a beta of 1.91. The company’s 50-day moving average price is $1.22 and its 200 day moving average price is $2.32. Acutus Medical has a twelve month low of $0.65 and a twelve month high of $18.00.

About Acutus Medical (Get Rating)

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. The company's 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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