Zacks: Analysts Anticipate AtriCure Inc. (ATRC) Will Announce Earnings of -$0.21 Per Share

Analysts expect AtriCure Inc. (NASDAQ:ATRC) to announce earnings per share of ($0.21) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for AtriCure’s earnings. The highest EPS estimate is ($0.17) and the lowest is ($0.25). AtriCure posted earnings per share of ($0.27) in the same quarter last year, which would suggest a positive year-over-year growth rate of 22.2%. The business is expected to issue its next quarterly earnings report on Tuesday, February 27th.

On average, analysts expect that AtriCure will report full-year earnings of ($0.96) per share for the current year, with EPS estimates ranging from ($1.00) to ($0.92). For the next year, analysts forecast that the business will post earnings of ($0.72) per share, with EPS estimates ranging from ($0.86) to ($0.61). Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow AtriCure.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Wednesday, November 1st. The medical device company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.02. AtriCure had a negative return on equity of 20.28% and a negative net margin of 19.40%. The business had revenue of $42.20 million for the quarter, compared to analyst estimates of $43.44 million. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year.

Several equities analysts have recently issued reports on the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $24.00 price target on shares of AtriCure in a research note on Sunday, December 10th. TheStreet lowered AtriCure from a “c-” rating to a “d+” rating in a research note on Wednesday, November 29th. ValuEngine lowered AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. Canaccord Genuity cut their target price on AtriCure from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd. Finally, Needham & Company LLC cut their target price on AtriCure from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. AtriCure presently has a consensus rating of “Hold” and a consensus price target of $24.67.

Shares of AtriCure (NASDAQ:ATRC) traded down $0.40 on Friday, hitting $17.99. The stock had a trading volume of 314,268 shares, compared to its average volume of 166,031. The company has a quick ratio of 1.65, a current ratio of 2.28 and a debt-to-equity ratio of 0.20. AtriCure has a twelve month low of $14.78 and a twelve month high of $25.18. The firm has a market capitalization of $620.19, a price-to-earnings ratio of -17.64 and a beta of 0.66.

In other news, CFO M. Andrew Wade sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $18.41, for a total transaction of $36,820.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director B Kristine Johnson purchased 1,500 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average cost of $18.36 per share, for a total transaction of $27,540.00. Following the transaction, the director now owns 10,969 shares of the company’s stock, valued at $201,390.84. The disclosure for this purchase can be found here. Corporate insiders own 10.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. raised its position in shares of AtriCure by 75.5% during the second quarter. Sei Investments Co. now owns 6,933 shares of the medical device company’s stock worth $168,000 after purchasing an additional 2,983 shares during the period. Legal & General Group Plc raised its position in shares of AtriCure by 3.8% during the second quarter. Legal & General Group Plc now owns 8,528 shares of the medical device company’s stock worth $208,000 after purchasing an additional 312 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of AtriCure during the third quarter worth about $205,000. Tudor Investment Corp ET AL acquired a new stake in shares of AtriCure during the second quarter worth about $253,000. Finally, Commerce Bank acquired a new stake in shares of AtriCure during the second quarter worth about $266,000. 86.17% of the stock is currently owned by institutional investors.

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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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