AtriCure (NASDAQ:ATRC) Releases FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -0.820--0.740 for the period, compared to the consensus estimate of -0.740. The company issued revenue guidance of $459.0 million-$466.0 million, compared to the consensus revenue estimate of $461.3 million. AtriCure also updated its FY24 guidance to ($0.74)-($0.82) EPS.

AtriCure Trading Up 2.7 %

Shares of NASDAQ ATRC traded up $0.64 during mid-day trading on Wednesday, hitting $24.76. The company's stock had a trading volume of 1,360,918 shares, compared to its average volume of 686,130. AtriCure has a one year low of $22.07 and a one year high of $59.61. The company's fifty day simple moving average is $29.30 and its 200-day simple moving average is $33.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.57 and a quick ratio of 2.66. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -37.52 and a beta of 1.38.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.01. The business had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The firm's revenue was up 21.0% on a year-over-year basis. During the same period last year, the company earned ($0.09) EPS. On average, sell-side analysts anticipate that AtriCure will post -0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ATRC shares. Oppenheimer raised shares of AtriCure from a market perform rating to an outperform rating and set a $32.00 target price for the company in a research note on Tuesday, April 23rd. Stifel Nicolaus dropped their price objective on AtriCure from $50.00 to $42.00 and set a buy rating on the stock in a research note on Friday, February 16th. StockNews.com cut AtriCure from a hold rating to a sell rating in a research note on Wednesday, March 27th. Needham & Company LLC reaffirmed a buy rating and set a $46.00 price target on shares of AtriCure in a research report on Wednesday, April 10th. Finally, UBS Group boosted their price objective on AtriCure from $57.00 to $58.00 and gave the company a buy rating in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $52.63.

Insider Buying and Selling

In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the transaction, the insider now owns 74,284 shares of the company's stock, valued at approximately $2,727,708.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Karl S. Dahlquist sold 1,885 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $32.16, for a total value of $60,621.60. Following the completion of the sale, the insider now owns 50,954 shares of the company's stock, valued at approximately $1,638,680.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Justin J. Noznesky sold 1,500 shares of the business's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total transaction of $55,080.00. Following the transaction, the insider now owns 74,284 shares in the company, valued at $2,727,708.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,116 shares of company stock worth $468,797. 3.20% of the stock is owned by corporate insiders.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, 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 enables users to make longer linear lines of ablation.

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