AtriCure (NASDAQ:ATRC) Issues Quarterly Earnings Results

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AtriCure (NASDAQ:ATRC) released its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01, Briefing.com reports. The company had revenue of $58.90 million during the quarter, compared to analyst estimates of $57.76 million. AtriCure had a negative net margin of 9.46% and a negative return on equity of 13.06%. AtriCure’s revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business earned ($0.19) earnings per share. AtriCure updated its FY 2019 guidance to EPS.

Shares of AtriCure stock opened at $26.94 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.10 and a current ratio of 3.72. AtriCure has a 52-week low of $26.11 and a 52-week high of $36.49. The company’s 50 day moving average price is $31.03 and its 200-day moving average price is $29.98.

A number of equities research analysts recently weighed in on the stock. Piper Jaffray Companies set a $40.00 target price on shares of AtriCure and gave the company a “buy” rating in a research note on Monday. BidaskClub downgraded shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Thursday. ValuEngine downgraded shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 19th. Zacks Investment Research downgraded shares of AtriCure from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Northland Securities downgraded shares of AtriCure from an “outperform” rating to a “market perform” rating and set a $30.00 price target on the stock. in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $36.57.

In related news, CEO Michael H. Carrel sold 1,454 shares of AtriCure stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.00, for a total value of $47,982.00. Following the sale, the chief executive officer now owns 637,557 shares in the company, valued at $21,039,381. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Justin J. Noznesky sold 10,000 shares of AtriCure stock in a transaction on Monday, June 17th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the senior vice president now owns 94,068 shares in the company, valued at approximately $2,822,040. The disclosure for this sale can be found here. Insiders sold 37,158 shares of company stock worth $1,169,102 in the last 90 days. Company insiders own 8.00% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.

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Earnings History for AtriCure (NASDAQ:ATRC)

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