SVB Leerink Weighs in on AtriCure, Inc.’s Q1 2023 Earnings (NASDAQ:ATRC)

AtriCure, Inc. (NASDAQ:ATRCGet Rating) – Equities research analysts at SVB Leerink issued their Q1 2023 EPS estimates for AtriCure in a report released on Tuesday, May 3rd. SVB Leerink analyst D. Antalffy expects that the medical device company will post earnings of ($0.32) per share for the quarter.

A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut AtriCure from a “buy” rating to a “hold” rating in a research report on Friday, February 18th. StockNews.com started coverage on shares of AtriCure in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Needham & Company LLC cut their target price on shares of AtriCure from $79.00 to $67.00 in a research report on Wednesday. Canaccord Genuity Group lowered their price target on AtriCure from $120.00 to $88.00 in a research report on Wednesday, February 16th. Finally, TheStreet downgraded AtriCure from a “b-” rating to a “c” rating in a research note on Wednesday, February 16th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $90.00.

ATRC stock opened at $53.33 on Thursday. The company has a current ratio of 3.47, a quick ratio of 2.78 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2.47 billion, a PE ratio of 47.62 and a beta of 1.19. AtriCure has a 1 year low of $48.92 and a 1 year high of $89.18. The company has a fifty day simple moving average of $61.79 and a 200 day simple moving average of $66.97.

AtriCure (NASDAQ:ATRCGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The medical device company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). The firm had revenue of $74.58 million during the quarter, compared to analyst estimates of $71.17 million. AtriCure had a negative return on equity of 11.96% and a net margin of 18.30%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.32) EPS.

In other news, insider Tonya Austin sold 1,409 shares of the stock in a transaction on Friday, March 4th. The shares were sold at an average price of $67.66, for a total value of $95,332.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 5,807 shares of company stock valued at $394,645 over the last 90 days. 5.80% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Manchester Capital Management LLC increased its position in shares of AtriCure by 1,351.4% during the 3rd quarter. Manchester Capital Management LLC now owns 508 shares of the medical device company’s stock worth $35,000 after purchasing an additional 473 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of AtriCure during the fourth quarter worth approximately $50,000. Pinebridge Investments L.P. acquired a new position in shares of AtriCure in the 4th quarter worth approximately $56,000. First Horizon Advisors Inc. grew its position in AtriCure by 80.5% during the 4th quarter. First Horizon Advisors Inc. now owns 1,496 shares of the medical device company’s stock worth $103,000 after acquiring an additional 667 shares during the last quarter. Finally, Islay Capital Management LLC acquired a new stake in AtriCure during the 1st quarter valued at $117,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

AtriCure Company Profile (Get Rating)

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a 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 enable users to make longer linear lines of ablation.

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Earnings History and Estimates for AtriCure (NASDAQ:ATRC)

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