Wall Street analysts expect AtriCure, Inc. (NASDAQ:ATRC) to report sales of $61.58 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for AtriCure's earnings. The highest sales estimate is $63.36 million and the lowest is $60.40 million. AtriCure reported sales of $40.82 million in the same quarter last year, which indicates a positive year-over-year growth rate of 50.9%. The firm is expected to report its next earnings results after the market closes on Wednesday, August 4th.
On average, analysts expect that AtriCure will report full year sales of $255.06 million for the current fiscal year, with estimates ranging from $254.10 million to $255.80 million. For the next year, analysts anticipate that the firm will report sales of $305.12 million, with estimates ranging from $291.58 million to $313.90 million. Zacks' sales calculations are an average based on a survey of sell-side research firms that cover AtriCure.
AtriCure (NASDAQ:ATRC) last posted its earnings results on Monday, April 26th. The medical device company reported ($0.38) earnings per share for the quarter, hitting the consensus estimate of ($0.38). The firm had revenue of $59.28 million during the quarter, compared to the consensus estimate of $56.24 million. AtriCure had a negative net margin of 22.89% and a negative return on equity of 10.49%.
Several research firms have recently weighed in on ATRC. JPMorgan Chase & Co. lifted their target price on shares of AtriCure from $70.00 to $81.00 and gave the stock an "overweight" rating in a research note on Friday, May 14th. Oppenheimer raised their price objective on shares of AtriCure from $65.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, April 28th. BTIG Research raised their price objective on shares of AtriCure from $69.00 to $76.00 and gave the company a "buy" rating in a research report on Wednesday, April 28th. Canaccord Genuity raised their price objective on shares of AtriCure from $77.00 to $102.00 and gave the company a "buy" rating in a research report on Wednesday, April 28th. Finally, Piper Sandler raised their price objective on shares of AtriCure from $70.00 to $85.00 in a research report on Thursday, April 29th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of "Buy" and a consensus price target of $84.89.
ATRC opened at $79.98 on Thursday. The stock has a market capitalization of $3.65 billion, a P/E ratio of -72.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.10 and a quick ratio of 4.48. The stock has a 50-day simple moving average of $76.55. AtriCure has a twelve month low of $34.04 and a twelve month high of $84.43.
In other AtriCure news, Director Sven Wehrwein sold 10,000 shares of AtriCure stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $77.97, for a total transaction of $779,700.00. Following the completion of the sale, the director now directly owns 12,686 shares in the company, valued at $989,127.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Scott William Drake sold 38,641 shares of AtriCure stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $77.90, for a total transaction of $3,010,133.90. Following the sale, the director now owns 79,677 shares of the company's stock, valued at $6,206,838.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,384 shares of company stock valued at $7,495,102. 3.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Harbor Investment Advisory LLC lifted its holdings in shares of AtriCure by 58.7% in the 1st 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. IFP Advisors Inc lifted its holdings in shares of AtriCure by 19.8% in the 1st quarter. IFP Advisors Inc now owns 2,325 shares of the medical device company's stock worth $152,000 after acquiring an additional 385 shares during the last quarter. The PNC Financial Services Group Inc. lifted its holdings in shares of AtriCure by 10.7% in the 1st quarter. The PNC Financial Services Group Inc. now owns 4,780 shares of the medical device company's stock worth $313,000 after acquiring an additional 463 shares during the last quarter. WCM Investment Management LLC lifted its holdings in shares of AtriCure by 0.3% in the 4th quarter. WCM Investment Management LLC now owns 155,321 shares of the medical device company's stock worth $8,647,000 after acquiring an additional 482 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in shares of AtriCure in the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 97.25% of the company's stock.
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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