Zacks: Brokerages Expect AtriCure, Inc. (NASDAQ:ATRC) to Announce -$0.21 EPS

Wall Street brokerages expect that AtriCure, Inc. (NASDAQ:ATRC) will post ($0.21) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for AtriCure’s earnings, with the lowest EPS estimate coming in at ($0.23) and the highest estimate coming in at ($0.18). AtriCure also posted earnings of ($0.21) per share in the same quarter last year. The business is scheduled to issue its next quarterly earnings report on Thursday, October 26th.

According to Zacks, analysts expect that AtriCure will report full year earnings of ($0.98) per share for the current fiscal year, with EPS estimates ranging from ($1.00) to ($0.94). For the next financial year, analysts forecast that the business will report earnings of ($0.62) per share, with EPS estimates ranging from ($0.77) to ($0.31). Zacks’ earnings per share averages are an average based on a survey of research analysts that cover AtriCure.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Thursday, July 27th. The medical device company reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.05. The firm had revenue of $45.23 million for the quarter, compared to analyst estimates of $44.15 million. AtriCure had a negative net margin of 19.56% and a negative return on equity of 19.38%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.26) earnings per share.

Several analysts recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $25.00 price target on shares of AtriCure in a research report on Sunday. TheStreet upgraded shares of AtriCure from a “d+” rating to a “c-” rating in a research report on Monday, May 15th. BidaskClub downgraded shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target (up previously from $25.00) on shares of AtriCure in a research report on Friday. Finally, Leerink Swann reiterated an “outperform” rating and issued a $26.00 price target on shares of AtriCure in a research report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.10.

In other AtriCure news, Director Elizabeth D. Krell sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $21.44, for a total value of $214,400.00. Following the transaction, the director now directly owns 24,162 shares of the company’s stock, valued at approximately $518,033.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC purchased a new position in shares of AtriCure during the first quarter valued at about $10,849,000. Loomis Sayles & Co. L P boosted its position in shares of AtriCure by 73.5% in the first quarter. Loomis Sayles & Co. L P now owns 771,365 shares of the medical device company’s stock valued at $14,772,000 after buying an additional 326,712 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of AtriCure by 5.6% in the first quarter. Wellington Management Group LLP now owns 3,313,575 shares of the medical device company’s stock valued at $63,456,000 after buying an additional 176,025 shares in the last quarter. FMR LLC boosted its position in shares of AtriCure by 2.7% in the first quarter. FMR LLC now owns 4,950,000 shares of the medical device company’s stock valued at $94,793,000 after buying an additional 130,000 shares in the last quarter. Finally, 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. 86.46% of the stock is currently owned by institutional investors.

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AtriCure (NASDAQ ATRC) traded up 5.07% during mid-day trading on Tuesday, hitting $23.84. 523,359 shares of the stock were exchanged. AtriCure has a 52-week low of $13.45 and a 52-week high of $25.11. The firm’s market cap is $818.52 million. The company has a 50 day moving average price of $23.51 and a 200 day moving average price of $20.07.

About AtriCure

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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