AtriCure (NASDAQ:ATRC) Releases FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of -0.800–0.740 for the period, compared to the consensus EPS estimate of -0.790. The company issued revenue guidance of $459.0 million-$462.0 million, compared to the consensus revenue estimate of $458.1 million.

AtriCure Trading Up 2.4 %

Shares of NASDAQ ATRC traded up $0.68 during mid-day trading on Tuesday, reaching $29.43. The company had a trading volume of 1,160,700 shares, compared to its average volume of 722,135. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -35.94 and a beta of 1.44. The company has a current ratio of 4.13, a quick ratio of 2.93 and a debt-to-equity ratio of 0.16. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.00. The business’s 50-day moving average is $27.35 and its 200-day moving average is $24.26.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, hitting the consensus estimate of ($0.17). AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The company had revenue of $116.27 million for the quarter, compared to the consensus estimate of $116.24 million. During the same period last year, the business posted ($0.12) EPS. AtriCure’s quarterly revenue was up 15.2% on a year-over-year basis. Equities analysts expect that AtriCure will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Needham & Company LLC lowered their price target on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. BTIG Research reduced their target price on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus cut their price objective on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, JPMorgan Chase & Co. decreased their price objective on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, AtriCure presently has an average rating of “Moderate Buy” and a consensus target price of $42.44.

Insider Buying and Selling at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the completion of the transaction, the director now owns 8,970 shares of the company’s stock, valued at $215,907.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.20% of the company’s stock.

About AtriCure

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.