$50.94 Million in Sales Expected for AtriCure Inc. (ATRC) This Quarter

Wall Street analysts forecast that AtriCure Inc. (NASDAQ:ATRC) will report $50.94 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for AtriCure’s earnings, with the highest sales estimate coming in at $51.20 million and the lowest estimate coming in at $50.70 million. AtriCure reported sales of $46.06 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.6%. The business is expected to issue its next quarterly earnings results on Monday, February 25th.

On average, analysts expect that AtriCure will report full year sales of $199.63 million for the current fiscal year, with estimates ranging from $199.50 million to $199.90 million. For the next year, analysts forecast that the business will post sales of $222.02 million, with estimates ranging from $220.20 million to $225.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover AtriCure.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Thursday, November 1st. The medical device company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $49.90 million during the quarter, compared to analyst estimates of $49.90 million. AtriCure had a negative return on equity of 16.92% and a negative net margin of 10.41%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.22) earnings per share.

ATRC has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $39.00 target price on shares of AtriCure in a report on Friday, October 12th. Canaccord Genuity increased their target price on shares of AtriCure from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, October 9th. Stifel Nicolaus increased their target price on shares of AtriCure from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded shares of AtriCure from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday. Finally, BTIG Research reiterated a “hold” rating on shares of AtriCure in a report on Thursday, August 2nd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. AtriCure currently has an average rating of “Buy” and a consensus target price of $35.80.

In other AtriCure news, SVP Justin J. Noznesky sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $30.32, for a total transaction of $121,280.00. Following the sale, the senior vice president now directly owns 124,920 shares in the company, valued at approximately $3,787,574.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 10.00% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in ATRC. JPMorgan Chase & Co. increased its position in shares of AtriCure by 105.1% in the 1st quarter. JPMorgan Chase & Co. now owns 14,208 shares of the medical device company’s stock valued at $292,000 after purchasing an additional 7,281 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of AtriCure in the 2nd quarter valued at approximately $301,000. BlueMountain Capital Management LLC increased its position in shares of AtriCure by 121.8% in the 2nd quarter. BlueMountain Capital Management LLC now owns 14,904 shares of the medical device company’s stock valued at $403,000 after purchasing an additional 8,184 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of AtriCure in the 3rd quarter valued at approximately $521,000. Finally, GSA Capital Partners LLP increased its position in shares of AtriCure by 135.4% in the 2nd quarter. GSA Capital Partners LLP now owns 26,054 shares of the medical device company’s stock valued at $705,000 after purchasing an additional 14,984 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

AtriCure stock traded down $0.89 during mid-day trading on Friday, reaching $32.76. 151,400 shares of the company’s stock were exchanged, compared to its average volume of 212,385. The firm has a market cap of $1.23 billion, a PE ratio of -39.47 and a beta of 0.16. AtriCure has a twelve month low of $14.88 and a twelve month high of $36.49. The company has a quick ratio of 2.37, a current ratio of 2.62 and a debt-to-equity ratio of 0.31.

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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