AtriCure (NASDAQ:ATRC) Releases FY 2022 Earnings Guidance

AtriCure (NASDAQ:ATRCGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of -$1.12–$1.07 for the period, compared to the consensus estimate of -$1.10. The company issued revenue guidance of $323.00 million-$333.00 million, compared to the consensus revenue estimate of $324.43 million.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ATRC. Piper Sandler dropped their price objective on shares of AtriCure from $90.00 to $55.00 and set an overweight rating for the company in a report on Wednesday. Stifel Nicolaus dropped their price objective on shares of AtriCure from $70.00 to $50.00 in a report on Monday, July 18th. Needham & Company LLC upped their price objective on shares of AtriCure from $55.00 to $65.00 and gave the company a buy rating in a report on Wednesday. StockNews.com raised shares of AtriCure from a sell rating to a hold rating in a report on Saturday, July 30th. Finally, BTIG Research dropped their price objective on shares of AtriCure from $94.00 to $75.00 and set a buy rating for the company in a report on Friday, June 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, AtriCure presently has a consensus rating of Moderate Buy and a consensus target price of $81.38.

AtriCure Trading Up 4.2 %

NASDAQ ATRC traded up $2.04 during trading hours on Friday, reaching $50.94. The company had a trading volume of 282,625 shares, compared to its average volume of 268,683. The stock has a 50-day moving average of $42.52 and a 200 day moving average of $53.22. AtriCure has a 1-year low of $32.83 and a 1-year high of $89.18. The company has a current ratio of 4.21, a quick ratio of 3.35 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.36 billion, a P/E ratio of 43.91 and a beta of 1.20.

AtriCure (NASDAQ:ATRCGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The medical device company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). AtriCure had a negative return on equity of 11.34% and a net margin of 17.62%. During the same quarter last year, the firm posted ($0.30) EPS. As a group, research analysts anticipate that AtriCure will post -1.09 earnings per share for the current fiscal year.

Insider Transactions at AtriCure

In other news, insider Tonya Austin sold 3,203 shares of the stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $42.69, for a total transaction of $136,736.07. Following the sale, the insider now owns 17,621 shares of the company’s stock, valued at $752,240.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of AtriCure

Several hedge funds have recently made changes to their positions in ATRC. PDT Partners LLC purchased a new stake in shares of AtriCure during the first quarter worth approximately $228,000. Ensign Peak Advisors Inc increased its stake in shares of AtriCure by 18.8% during the first quarter. Ensign Peak Advisors Inc now owns 3,470 shares of the medical device company’s stock worth $228,000 after buying an additional 550 shares during the period. Bridgefront Capital LLC purchased a new stake in shares of AtriCure during the first quarter worth approximately $235,000. Laurel Wealth Advisors Inc. increased its stake in shares of AtriCure by 10.6% during the first quarter. Laurel Wealth Advisors Inc. now owns 4,851 shares of the medical device company’s stock worth $318,000 after buying an additional 463 shares during the period. Finally, AlphaCrest Capital Management LLC purchased a new stake in shares of AtriCure during the first quarter worth approximately $343,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

About AtriCure

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AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company 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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Earnings History and Estimates for AtriCure (NASDAQ:ATRC)

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