AtriCure (ATRC) Set to Announce Earnings on Tuesday

AtriCure (NASDAQ:ATRC - Get Free Report) is scheduled to be announcing its earnings results after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of ($0.20) per share for the quarter. AtriCure has set its FY 2024 guidance at -0.820--0.740 EPS.Persons that wish to register for the company's earnings conference call can do so using this link.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, meeting 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 business had revenue of $116.27 million for the quarter, compared to analysts' expectations of $116.24 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The firm's revenue was up 15.2% on a year-over-year basis. On average, analysts expect AtriCure to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

AtriCure Trading Up 0.3 %

AtriCure stock traded up $0.09 during mid-day trading on Tuesday, hitting $28.63. 235,062 shares of the stock were exchanged, compared to its average volume of 721,510. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -35.79 and a beta of 1.44. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.00. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. The firm's fifty day simple moving average is $26.95 and its two-hundred day simple moving average is $24.20.

Analysts Set New Price Targets

Several research firms recently issued reports on ATRC. Needham & Company LLC dropped their target price on shares of AtriCure from $40.00 to $34.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. StockNews.com upgraded AtriCure from a "sell" rating to a "hold" rating in a research report on Saturday, September 14th. Stifel Nicolaus lowered their target price on AtriCure from $30.00 to $26.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. BTIG Research cut their price target on AtriCure from $58.00 to $53.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Finally, Piper Sandler lowered their price objective on shares of AtriCure from $65.00 to $40.00 and set an "overweight" rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $42.44.

Insider Buying and Selling

In other news, Director Maggie Yuen sold 3,500 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 8,970 shares of the company's stock, valued at $215,907.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.20% of the stock is owned by company insiders.

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.