AtriCure, Inc. (ATRC) Announces Earnings Results
AtriCure, Inc. (NASDAQ:ATRC) posted its quarterly earnings results on Wednesday. The medical device company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02, Briefing.com reports. The business had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $43.44 million. AtriCure had a negative net margin of 19.56% and a negative return on equity of 19.56%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted ($0.21) earnings per share. AtriCure updated its FY17 guidance to ($1.04)-($0.94) EPS.
In other news, Director Elizabeth D. Krell sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $22.40, for a total value of $224,000.00. Following the sale, the director now directly owns 29,967 shares of the company’s stock, valued at approximately $671,260.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.00% of the stock is currently owned by insiders.
A number of equities research analysts have commented on the stock. Stifel Nicolaus restated a “buy” rating and issued a $25.00 price target on shares of AtriCure in a report on Sunday, July 30th. BidaskClub cut shares of AtriCure from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Canaccord Genuity restated a “buy” rating and issued a $28.00 price target on shares of AtriCure in a report on Monday, October 9th. Zacks Investment Research upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $26.00 price target (up from $25.00) on shares of AtriCure in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. AtriCure presently has an average rating of “Buy” and an average price target of $25.00.
AtriCure Company Profile
AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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