Brokerages Expect AtriCure Inc. (ATRC) Will Announce Quarterly Sales of $45.77 Million

Equities analysts expect AtriCure Inc. (NASDAQ:ATRC) to post sales of $45.77 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for AtriCure’s earnings, with estimates ranging from $45.10 million to $46.70 million. AtriCure reported sales of $41.27 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.9%. The company is scheduled to report its next earnings report after the market closes on Thursday, April 26th.

According to Zacks, analysts expect that AtriCure will report full year sales of $45.77 million for the current year, with estimates ranging from $193.00 million to $195.30 million. For the next year, analysts expect that the business will post sales of $218.07 million per share, with estimates ranging from $214.40 million to $222.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for AtriCure.

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AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Monday, February 26th. The medical device company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.13. The business had revenue of $46.06 million for the quarter, compared to analysts’ expectations of $45.85 million. AtriCure had a negative return on equity of 16.74% and a negative net margin of 15.39%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.27) EPS.

Several analysts have weighed in on ATRC shares. Piper Jaffray reaffirmed a “buy” rating and set a $24.00 price objective on shares of AtriCure in a research report on Sunday, December 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective (down from $25.00) on shares of AtriCure in a research report on Tuesday, January 16th. BidaskClub upgraded shares of AtriCure from a “strong sell” rating to a “sell” rating in a report on Thursday, February 15th. Canaccord Genuity lifted their target price on shares of AtriCure from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, ValuEngine upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $24.80.

In other news, SVP Justin J. Noznesky sold 4,000 shares of AtriCure stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $17.03, for a total transaction of $68,120.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elizabeth D. Krell sold 10,000 shares of AtriCure stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of AtriCure by 1.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 173,033 shares of the medical device company’s stock valued at $3,157,000 after purchasing an additional 2,932 shares during the last quarter. Macquarie Group Ltd. raised its holdings in AtriCure by 3.9% in the 3rd quarter. Macquarie Group Ltd. now owns 82,245 shares of the medical device company’s stock worth $1,840,000 after acquiring an additional 3,056 shares during the last quarter. Essex Investment Management Co. LLC raised its holdings in AtriCure by 2.4% in the 4th quarter. Essex Investment Management Co. LLC now owns 145,258 shares of the medical device company’s stock worth $2,650,000 after acquiring an additional 3,460 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in AtriCure by 1.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 203,273 shares of the medical device company’s stock worth $4,547,000 after acquiring an additional 3,580 shares during the last quarter. Finally, Capital Fund Management S.A. raised its holdings in AtriCure by 57.3% in the 4th quarter. Capital Fund Management S.A. now owns 15,100 shares of the medical device company’s stock worth $275,000 after acquiring an additional 5,500 shares during the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.

AtriCure stock traded down $0.28 during trading hours on Wednesday, hitting $19.65. 144,457 shares of the stock traded hands, compared to its average volume of 224,041. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.87 and a current ratio of 2.58. The stock has a market cap of $688.79, a price-to-earnings ratio of -24.01 and a beta of 0.25. AtriCure has a one year low of $14.88 and a one year high of $25.18.

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AtriCure Company Profile

AtriCure, Inc provides atrial fibrillation solutions to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy; and EPi-Sense guided coagulation system used for the temporary cardiac signal sensing and recording during surgery.

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Earnings History and Estimates for AtriCure (NASDAQ:ATRC)

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