AtriCure (NASDAQ:ATRC) Updates FY 2024 Earnings Guidance

AtriCure (NASDAQ:ATRC) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of -0.800–0.740 for the period, compared to the consensus EPS 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

A number of research analysts recently issued reports on ATRC shares. Oppenheimer raised their price target on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their price target on AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC lifted their price objective on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $40.00 price objective on shares of AtriCure in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, AtriCure presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

AtriCure Price Performance

ATRC stock opened at $33.17 on Monday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -39.96 and a beta of 1.42. 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 firm has a 50 day moving average of $33.82 and a 200-day moving average of $28.56. AtriCure has a 12-month low of $18.94 and a 12-month high of $39.04.

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

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.