AtriCure (NASDAQ:ATRC) Releases FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of -0.800--0.740 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Piper Sandler cut their price objective on AtriCure from $65.00 to $40.00 and set an "overweight" rating for the company in a research note on Wednesday, July 31st. StockNews.com upgraded AtriCure from a "sell" rating to a "hold" rating in a research report on Saturday, September 14th. JPMorgan Chase & Co. decreased their price objective on AtriCure from $34.00 to $30.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC dropped their target price on shares of AtriCure from $40.00 to $34.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Finally, 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 research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, AtriCure currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.44.

AtriCure Trading Up 2.4 %

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

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.17). The firm had revenue of $116.27 million for the quarter, compared to analyst estimates of $116.24 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. AtriCure's revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) EPS. On average, sell-side analysts predict that AtriCure will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of the company's stock in a transaction that occurred 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 sale, the director now directly owns 8,970 shares of the company's stock, valued at $215,907.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by corporate 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.

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