AtriCure (NASDAQ:ATRC) Issues Earnings Results

Key Points

• AtriCure reported quarterly EPS of $0.17, beating the consensus estimate of a $0.06 loss by $0.23.
• The stock rose $0.51 to $60.39 on the earnings day, with trading volume above its average.
• Analyst views were mixed: six rated the shares Buy, five Hold and one Sell; the consensus rating was Hold, with a $55.70 price target.

AtriCure (NASDAQ:ATRC - Get Free Report) released its earnings results on Tuesday. The medical device company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.23, FiscalAI reports. AtriCure had a return on equity of 2.34% and a net margin of 1.85%.

AtriCure Price Performance

ATRC traded up $0.51 on Tuesday, hitting $60.39. 1,188,098 shares of the company were exchanged, compared to its average volume of 869,743. The firm has a market capitalization of $3.07 billion, a P/E ratio of 287.57 and a beta of 1.22. AtriCure has a fifty-two week low of $25.36 and a fifty-two week high of $63.00. The business's fifty day moving average is $55.80 and its 200 day moving average is $38.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.19 and a current ratio of 4.22.

Insider Activity at AtriCure

In other news, Director Karen Prange sold 3,564 shares of AtriCure stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $38.80, for a total value of $138,283.20. Following the transaction, the director directly owned 22,809 shares of the company's stock, valued at $884,989.20. The trade was a 13.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Salvatore Privitera sold 4,519 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $60.00, for a total transaction of $271,140.00. Following the completion of the sale, the insider directly owned 142,745 shares of the company's stock, valued at $8,564,700. The trade was a 3.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 37,686 shares of company stock worth $1,898,756 over the last three months. Company insiders own 4.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Freedom Capital cut AtriCure from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 2nd. Citigroup reissued a "market outperform" rating on shares of AtriCure in a research report on Wednesday, October 21st. UBS Group downgraded AtriCure from a "buy" rating to a "sell" rating in a research note on Wednesday, October 21st. Stifel Nicolaus set a $65.00 price target on AtriCure in a research report on Thursday, September 17th. Finally, Weiss Ratings upgraded AtriCure from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $55.70.

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.

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