AtriCure (NASDAQ:ATRC) Releases Earnings Results, Beats Expectations By $0.23 EPS

AtriCure (NASDAQ:ATRC) posted its earnings results on Tuesday. The medical device company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23, FiscalAI reports. AtriCure had a return on equity of 2.34% and a net margin of 1.85%.

AtriCure Price Performance

ATRC traded up $0.53 during trading on Tuesday, reaching $60.41. The company’s stock had a trading volume of 1,573,331 shares, compared to its average volume of 870,241. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 287.68 and a beta of 1.22. The firm has a fifty day simple moving average of $55.80 and a two-hundred day simple moving average of $38.28. AtriCure has a 1 year low of $25.36 and a 1 year high of $63.00. The company has a quick ratio of 3.19, a current ratio of 4.22 and a debt-to-equity ratio of 0.14.

Insiders Place Their Bets

In related news, insider Karl S. Dahlquist sold 9,370 shares of AtriCure stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $48.89, for a total transaction of $458,099.30. Following the transaction, the insider owned 87,319 shares in the company, valued at approximately $4,269,025.91. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Regina E. Groves sold 5,313 shares of AtriCure stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $54.22, for a total value of $288,070.86. Following the transaction, the director owned 34,546 shares in the company, valued at approximately $1,873,084.12. The trade was a 13.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 37,686 shares of company stock valued at $1,898,756. Insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

ATRC has been the subject of a number of research analyst reports. Citizens Jmp increased their target price on AtriCure from $52.00 to $68.00 and gave the company a “market outperform” rating in a report on Wednesday, October 21st. Freedom Capital lowered AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Raymond James Financial set a $52.00 price target on AtriCure in a research report on Tuesday, July 21st. BTIG Research increased their price objective on AtriCure from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Finally, Weiss Ratings upgraded AtriCure from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AtriCure presently has an average rating of “Hold” and an average target price of $55.70.

About AtriCure

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.