AtriCure (NASDAQ:ATRC) Releases FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of -0.800–0.740 for the period, compared to the consensus earnings per share estimate of -0.740. The company issued revenue guidance of $465.3 million-$465.3 million, compared to the consensus revenue estimate of $460.9 million. AtriCure also updated its FY 2025 guidance to EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ATRC shares. Canaccord Genuity Group increased their target price on AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $40.00 price objective on shares of AtriCure in a report on Tuesday, December 17th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of AtriCure in a research note on Monday. UBS Group upped their price target on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer raised their price objective on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.00.

AtriCure Stock Performance

Shares of ATRC opened at $34.39 on Tuesday. AtriCure has a 12-month low of $18.94 and a 12-month high of $39.04. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.68 billion, a PE ratio of -41.43 and a beta of 1.42. The stock has a 50-day moving average price of $33.83 and a 200-day moving average price of $28.63.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.02. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The business had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. During the same period in the previous year, the business posted ($0.20) earnings per share. AtriCure’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, equities analysts forecast that AtriCure will post -0.72 earnings per share for the current fiscal year.

AtriCure Company Profile

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.