AtriCure (NASDAQ:ATRC) Issues Earnings Results, Beats Expectations By $0.23 EPS

AtriCure (NASDAQ:ATRC) released its quarterly earnings results on Tuesday. The medical device company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23, FiscalAI reports. AtriCure had a net margin of 1.85% and a return on equity of 2.34%.

AtriCure Price Performance

Shares of AtriCure stock traded up $0.51 on Tuesday, hitting $60.39. The company had a trading volume of 1,188,098 shares, compared to its average volume of 869,743. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.22 and a quick ratio of 3.19. The company has a market cap of $3.07 billion, a PE ratio of 287.57 and a beta of 1.22. The business has a 50-day simple moving average of $55.80 and a 200-day simple moving average of $38.28. AtriCure has a 52 week low of $25.36 and a 52 week high of $63.00.

Wall Street Analyst Weigh In

ATRC has been the subject of a number of recent analyst reports. Citizens Jmp raised their price objective on AtriCure from $52.00 to $68.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 21st. Needham & Company LLC upped their target price on AtriCure from $45.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Zacks Research cut AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. BTIG Research raised their price target on shares of AtriCure from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, UBS Group lowered shares of AtriCure from a “buy” rating to a “sell” rating in a research note on Wednesday, October 21st. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.70.

Insider Activity

In related news, Director Regina E. Groves sold 5,313 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $54.22, for a total value of $288,070.86. Following the sale, the director directly owned 34,546 shares in the company, valued at $1,873,084.12. The trade was a 13.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maggie Yuen sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $38.42, for a total transaction of $134,470.00. Following the sale, the director directly owned 14,015 shares of the company’s stock, valued at approximately $538,456.30. This represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 37,686 shares of company stock valued at $1,898,756 over the last quarter. Insiders own 4.00% of the company’s stock.

About AtriCure

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.