AtriCure, Inc. (NASDAQ:ATRC) Expected to Post Quarterly Sales of $79.33 Million

Wall Street brokerages expect AtriCure, Inc. (NASDAQ:ATRCGet Rating) to announce $79.33 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for AtriCure’s earnings, with the highest sales estimate coming in at $81.73 million and the lowest estimate coming in at $78.20 million. AtriCure posted sales of $71.38 million in the same quarter last year, which suggests a positive year over year growth rate of 11.1%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that AtriCure will report full year sales of $325.53 million for the current financial year, with estimates ranging from $324.10 million to $327.60 million. For the next financial year, analysts expect that the business will report sales of $383.12 million, with estimates ranging from $374.80 million to $398.20 million. Zacks’ sales averages are an average based on a survey of analysts that cover AtriCure.

AtriCure (NASDAQ:ATRCGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The medical device company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.01). AtriCure had a net margin of 17.93% and a negative return on equity of 11.66%. The company had revenue of $74.58 million during the quarter, compared to analyst estimates of $71.17 million. During the same quarter last year, the company earned ($0.32) EPS. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year.

A number of analysts have recently commented on ATRC shares. StockNews.com lowered AtriCure from a “hold” rating to a “sell” rating in a report on Monday, May 9th. TheStreet cut shares of AtriCure from a “b-” rating to a “c” rating in a research note on Wednesday, February 16th. BTIG Research reissued a “buy” rating and issued a $94.00 price objective on shares of AtriCure in a research report on Monday, March 14th. Canaccord Genuity Group reduced their target price on shares of AtriCure from $120.00 to $88.00 in a report on Wednesday, February 16th. Finally, Needham & Company LLC lowered their price target on shares of AtriCure from $79.00 to $67.00 in a research note on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $91.13.

In related news, insider Tonya Austin sold 1,626 shares of the firm’s stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $69.31, for a total value of $112,698.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 3,317 shares of company stock valued at $225,399 over the last three months. 2.80% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Huntington National Bank lifted its holdings in AtriCure by 767.3% during the 1st quarter. Huntington National Bank now owns 451 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 399 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in AtriCure by 1,351.4% during the 3rd quarter. Manchester Capital Management LLC now owns 508 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 473 shares during the last quarter. Marshall Wace LLP acquired a new stake in AtriCure during the 4th quarter valued at $50,000. Pinebridge Investments L.P. acquired a new stake in AtriCure during the 4th quarter valued at $56,000. Finally, First Horizon Advisors Inc. lifted its holdings 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 valued at $103,000 after purchasing an additional 667 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

ATRC stock opened at $42.89 on Monday. The stock has a 50-day moving average price of $58.18 and a two-hundred day moving average price of $65.37. AtriCure has a 1 year low of $38.64 and a 1 year high of $89.18. The stock has a market cap of $1.99 billion, a PE ratio of 38.29 and a beta of 1.19. The company has a current ratio of 4.21, a quick ratio of 3.35 and a debt-to-equity ratio of 0.15.

About AtriCure (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.

Further Reading

Get a free copy of the Zacks research report on AtriCure (ATRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for AtriCure (NASDAQ:ATRC)

Receive News & Ratings for AtriCure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AtriCure and related companies with MarketBeat.com's FREE daily email newsletter.