Acutus Medical, Inc. (NASDAQ:AFIB) Expected to Announce Quarterly Sales of $3.87 Million

Wall Street analysts expect Acutus Medical, Inc. (NASDAQ:AFIBGet Rating) to announce sales of $3.87 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Acutus Medical’s earnings. The lowest sales estimate is $3.80 million and the highest is $3.94 million. Acutus Medical posted sales of $4.71 million in the same quarter last year, which suggests a negative year-over-year growth rate of 17.8%. The business is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Acutus Medical will report full year sales of $17.11 million for the current financial year, with estimates ranging from $16.62 million to $17.60 million. For the next year, analysts forecast that the company will report sales of $22.96 million, with estimates ranging from $21.00 million to $24.92 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Acutus Medical.

Acutus Medical (NASDAQ:AFIBGet Rating) last issued its quarterly earnings results on Wednesday, March 30th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.21). Acutus Medical had a negative net margin of 740.61% and a negative return on equity of 127.21%. The company had revenue of $4.36 million during the quarter, compared to analyst estimates of $4.30 million.

A number of research firms have recently weighed in on AFIB. William Blair restated a “market perform” rating on shares of Acutus Medical in a report on Thursday, March 31st. Zacks Investment Research upgraded Acutus Medical from a “sell” rating to a “hold” rating in a research report on Friday, May 13th. Finally, BTIG Research raised Acutus Medical from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.60.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP purchased a new position in Acutus Medical in the third quarter worth about $1,625,000. BlackRock Inc. increased its position in Acutus Medical by 18.7% during the 3rd quarter. BlackRock Inc. now owns 1,271,601 shares of the company’s stock valued at $11,241,000 after purchasing an additional 200,749 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in Acutus Medical by 39.5% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 53,000 shares of the company’s stock worth $181,000 after buying an additional 15,000 shares during the period. Squarepoint Ops LLC purchased a new stake in Acutus Medical during the third quarter worth $225,000. Finally, Trexquant Investment LP purchased a new stake in Acutus Medical during the third quarter worth $219,000. Institutional investors and hedge funds own 62.97% of the company’s stock.

Shares of NASDAQ:AFIB opened at $0.79 on Friday. The business’s 50 day simple moving average is $1.24 and its two-hundred day simple moving average is $2.45. The company has a current ratio of 6.03, a quick ratio of 5.01 and a debt-to-equity ratio of 0.59. Acutus Medical has a 52-week low of $0.76 and a 52-week high of $18.00.

About Acutus Medical (Get Rating)

Acutus Medical, Inc, an arrhythmia management company, designs, manufactures, and markets a range of tools for catheter-based ablation procedures to treat various arrhythmias in the United States and internationally. The company's product portfolio includes novel access sheaths, transseptal crossing tools, diagnostic and mapping catheters, conventional and contact force ablation catheters, and mapping and imaging consoles and accessories, as well as supporting algorithms and software programs.

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