$61.58 Million in Sales Expected for AtriCure, Inc. (NASDAQ:ATRC) This Quarter

Equities analysts forecast that AtriCure, Inc. (NASDAQ:ATRC) will report sales of $61.58 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for AtriCure’s earnings. The lowest sales estimate is $60.40 million and the highest is $63.36 million. AtriCure reported sales of $40.82 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 50.9%. The company is scheduled to announce its next earnings report on Tuesday, July 27th.

On average, analysts expect that AtriCure will report full-year sales of $255.06 million for the current year, with estimates ranging from $254.10 million to $255.80 million. For the next year, analysts forecast that the company will report sales of $305.12 million, with estimates ranging from $291.58 million to $313.90 million. Zacks’ sales averages are an average based on a survey of analysts that follow AtriCure.

AtriCure (NASDAQ:ATRC) last released its earnings results on Monday, April 26th. The medical device company reported ($0.38) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.38). The company had revenue of $59.28 million for the quarter, compared to the consensus estimate of $56.24 million. AtriCure had a negative return on equity of 10.49% and a negative net margin of 22.89%.

Several equities analysts have recently commented on ATRC shares. Oppenheimer boosted their price objective on AtriCure from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, April 28th. SVB Leerink boosted their price objective on AtriCure from $78.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, May 26th. JPMorgan Chase & Co. boosted their price objective on AtriCure from $70.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, May 14th. Zacks Investment Research downgraded AtriCure from a “buy” rating to a “hold” rating in a research report on Friday, April 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $91.00 price objective on shares of AtriCure in a research report on Monday, May 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $84.88.

In other AtriCure news, Director Regina E. Groves sold 4,208 shares of the business’s stock in a transaction that occurred on Wednesday, May 26th. The stock was sold at an average price of $71.95, for a total transaction of $302,765.60. Following the sale, the director now directly owns 19,350 shares of the company’s stock, valued at $1,392,232.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Collar sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $65.28, for a total value of $195,840.00. Following the sale, the director now directly owns 72,558 shares in the company, valued at $4,736,586.24. The disclosure for this sale can be found here. Insiders sold 60,480 shares of company stock worth $4,642,804 over the last ninety days. Insiders own 3.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Cowa LLC bought a new stake in AtriCure during the fourth quarter worth approximately $29,000. Altshuler Shaham Ltd bought a new stake in AtriCure during the first quarter worth approximately $40,000. Harbor Investment Advisory LLC increased its stake in AtriCure by 58.7% during the first quarter. Harbor Investment Advisory LLC now owns 646 shares of the medical device company’s stock worth $42,000 after acquiring an additional 239 shares during the last quarter. FORA Capital LLC bought a new stake in AtriCure during the first quarter worth approximately $53,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in AtriCure during the first quarter worth approximately $57,000. 97.26% of the stock is currently owned by institutional investors.

Shares of AtriCure stock opened at $75.30 on Friday. The firm has a 50-day simple moving average of $71.36. AtriCure has a 52 week low of $34.04 and a 52 week high of $80.44. The stock has a market capitalization of $3.44 billion, a P/E ratio of -67.84 and a beta of 1.07. The company has a quick ratio of 4.48, a current ratio of 5.10 and a debt-to-equity ratio of 0.15.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States, Europe, Asia, and internationally. It 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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