AtriCure (NASDAQ:ATRC) Releases FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC - Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of -0.800--0.740 for the period, compared to the consensus 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 Stock Up 9.5 %

Shares of NASDAQ ATRC traded up $2.98 during midday trading on Monday, hitting $34.39. The stock had a trading volume of 1,003,298 shares, compared to its average volume of 661,614. The company has a market cap of $1.68 billion, a P/E ratio of -41.43 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 moving average is $33.82 and its 200-day moving average is $28.56. AtriCure has a 52 week low of $18.94 and a 52 week high of $39.04.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) 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 business had revenue of $115.91 million during the quarter, compared to analysts' expectations of $112.23 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The firm's revenue was up 17.9% on a year-over-year basis. As a group, analysts predict that AtriCure will post -0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

ATRC has been the subject of a number of research reports. Canaccord Genuity Group increased their target price on AtriCure from $53.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, December 9th. UBS Group raised their target price on shares of AtriCure from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $40.00 target price on shares of AtriCure in a research note on Tuesday, December 17th. Oppenheimer raised their price target on AtriCure from $32.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $40.00 target price on shares of AtriCure in a research note on Monday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.