AtriCure (NASDAQ:ATRC) Updates FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of -0.800–0.740 for the period, compared to the consensus earnings per share estimate of -0.740. The company issued revenue guidance of $465.3 million-$465.3 million, compared to the consensus revenue estimate of $460.9 million. AtriCure also updated its FY 2025 guidance to EPS.

AtriCure Trading Up 7.0 %

ATRC stock traded up $2.20 during midday trading on Monday, reaching $33.61. The company’s stock had a trading volume of 133,875 shares, compared to its average volume of 536,332. AtriCure has a 52 week low of $18.94 and a 52 week high of $39.04. The stock has a market cap of $1.64 billion, a PE ratio of -40.49 and a beta of 1.42. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $33.82 and its 200-day simple moving average is $28.56.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The firm had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same period last year, the firm earned ($0.20) earnings per share. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, sell-side analysts expect that AtriCure will post -0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

ATRC has been the topic of a number of recent research reports. UBS Group raised their price objective on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC raised their price objective on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $40.00 price target on shares of AtriCure in a research report on Tuesday, December 17th. Oppenheimer lifted their price target on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group lifted their price target on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.00.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.