AtriCure (NASDAQ:ATRC – Get Free Report) announced its quarterly earnings results on Wednesday. The medical device company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02), Briefing.com reports. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The firm had revenue of $108.90 million for the quarter, compared to analyst estimates of $106.86 million. During the same quarter in the prior year, the business earned ($0.23) EPS. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. AtriCure updated its FY24 guidance to ($0.74)-($0.82) EPS and its FY 2024 guidance to -0.820–0.740 EPS.
AtriCure Stock Down 10.9 %
ATRC traded down $2.69 during trading hours on Thursday, hitting $22.07. 1,610,671 shares of the company’s stock were exchanged, compared to its average volume of 696,773. The firm has a market cap of $1.07 billion, a P/E ratio of -33.20 and a beta of 1.41. AtriCure has a 12-month low of $20.19 and a 12-month high of $59.61. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $29.30 and a 200 day moving average of $33.32.
Insider Buying and Selling at AtriCure
In other AtriCure news, insider Karl S. Dahlquist sold 8,231 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total value of $307,510.16. Following the sale, the insider now owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other AtriCure news, insider Karl S. Dahlquist sold 8,231 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the transaction, the insider now owns 52,839 shares in the company, valued at approximately $1,974,065.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $30.39, for a total transaction of $45,585.00. Following the completion of the sale, the insider now owns 72,784 shares in the company, valued at $2,211,905.76. The disclosure for this sale can be found here. Insiders sold 13,116 shares of company stock valued at $468,797 in the last 90 days. Company insiders own 3.20% of the company’s stock.
Analyst Ratings Changes
Get Our Latest Stock Report on ATRC
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.
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