Zacks: Brokerages Anticipate AtriCure Inc. (ATRC) to Post -$0.22 Earnings Per Share

Wall Street analysts forecast that AtriCure Inc. (NASDAQ:ATRC) will post earnings of ($0.22) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for AtriCure’s earnings, with the lowest EPS estimate coming in at ($0.25) and the highest estimate coming in at ($0.17). AtriCure also posted earnings of ($0.22) per share in the same quarter last year. The firm is expected to announce its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that AtriCure will report full-year earnings of ($0.88) per share for the current fiscal year, with EPS estimates ranging from ($0.90) to ($0.85). For the next financial year, analysts forecast that the firm will post earnings of ($0.64) per share, with EPS estimates ranging from ($0.79) to ($0.40). Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for AtriCure.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Wednesday, August 1st. The medical device company reported ($0.19) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.04. The company had revenue of $51.80 million for the quarter, compared to analyst estimates of $49.94 million. AtriCure had a negative net margin of 10.85% and a negative return on equity of 16.57%. AtriCure’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted ($0.21) earnings per share.

ATRC has been the topic of several research reports. Needham & Company LLC lifted their price objective on shares of AtriCure from $26.00 to $32.00 and gave the company a “buy” rating in a report on Monday, June 18th. ValuEngine raised shares of AtriCure from a “hold” rating to a “buy” rating in a report on Saturday, May 12th. Stifel Nicolaus raised their target price on shares of AtriCure from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Canaccord Genuity restated a “buy” rating and issued a $37.00 target price on shares of AtriCure in a research note on Thursday, August 2nd. Finally, BTIG Research restated a “hold” rating on shares of AtriCure in a research note on Thursday, August 2nd. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. AtriCure presently has an average rating of “Buy” and an average price target of $32.40.

In other AtriCure news, SVP Justin J. Noznesky sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $30.32, for a total value of $121,280.00. Following the completion of the sale, the senior vice president now directly owns 124,920 shares in the company, valued at $3,787,574.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark A. Collar sold 2,090 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $25.00, for a total transaction of $52,250.00. Following the completion of the sale, the director now owns 66,898 shares of the company’s stock, valued at $1,672,450. The disclosure for this sale can be found here. 10.00% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of ATRC. Highbridge Capital Management LLC acquired a new stake in shares of AtriCure during the first quarter worth $208,000. Trexquant Investment LP acquired a new stake in shares of AtriCure during the first quarter worth $224,000. JPMorgan Chase & Co. lifted its stake in shares of AtriCure by 105.1% during the first quarter. JPMorgan Chase & Co. now owns 14,208 shares of the medical device company’s stock worth $292,000 after buying an additional 7,281 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of AtriCure during the second quarter worth $301,000. Finally, BlueMountain Capital Management LLC lifted its stake in shares of AtriCure by 121.8% during the second quarter. BlueMountain Capital Management LLC now owns 14,904 shares of the medical device company’s stock worth $403,000 after buying an additional 8,184 shares during the period. Institutional investors and hedge funds own 90.38% of the company’s stock.

Shares of ATRC stock opened at $34.28 on Tuesday. The company has a market cap of $1.21 billion, a P/E ratio of -41.30 and a beta of 0.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.37 and a current ratio of 3.16. AtriCure has a 52-week low of $14.88 and a 52-week high of $35.17.

AtriCure Company Profile

AtriCure, Inc provides atrial fibrillation solutions 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; COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy; and EPi-Sense guided coagulation system used for the temporary cardiac signal sensing and recording during surgery.

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