Leerink Swann Comments on AtriCure Inc.’s FY2020 Earnings (ATRC)

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AtriCure Inc. (NASDAQ:ATRC) – Analysts at Leerink Swann upped their FY2020 earnings per share estimates for shares of AtriCure in a research report issued on Wednesday, June 27th. Leerink Swann analyst D. Antalffy now expects that the medical device company will earn ($0.29) per share for the year, up from their previous forecast of ($0.33). Leerink Swann also issued estimates for AtriCure’s FY2021 earnings at $0.06 EPS and FY2022 earnings at $0.24 EPS.

Several other research firms have also commented on ATRC. Zacks Investment Research lowered shares of AtriCure from a “hold” rating to a “sell” rating in a research report on Tuesday. Piper Jaffray Companies upped their price target on shares of AtriCure to $30.00 and gave the company an “overweight” rating in a research report on Tuesday. Stifel Nicolaus upped their price target on shares of AtriCure from $23.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday. Canaccord Genuity upped their price target on shares of AtriCure from $27.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, BTIG Research reaffirmed a “hold” rating on shares of AtriCure in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.80.

AtriCure opened at $27.05 on Friday, according to MarketBeat. AtriCure has a 52 week low of $14.88 and a 52 week high of $30.96. The stock has a market cap of $962.55 million, a PE ratio of -32.62 and a beta of 0.24. The company has a quick ratio of 2.31, a current ratio of 3.15 and a debt-to-equity ratio of 0.34.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Thursday, April 26th. The medical device company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.04). AtriCure had a negative net margin of 14.88% and a negative return on equity of 16.92%. The business had revenue of $46.99 million for the quarter, compared to analysts’ expectations of $45.43 million. During the same period in the previous year, the company earned ($0.32) EPS. AtriCure’s revenue for the quarter was up 13.9% compared to the same quarter last year.

In related news, Director Mark A. Collar sold 2,090 shares of the stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $25.00, for a total value of $52,250.00. Following the completion of the sale, the director now directly owns 66,898 shares of the company’s stock, valued at approximately $1,672,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth D. Krell sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $22.82, for a total transaction of $228,200.00. Following the completion of the sale, the director now directly owns 29,967 shares of the company’s stock, valued at $683,846.94. The disclosure for this sale can be found here. Corporate insiders own 10.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in AtriCure by 22.1% in the 4th quarter. BlackRock Inc. now owns 2,731,558 shares of the medical device company’s stock worth $49,823,000 after acquiring an additional 494,306 shares in the last quarter. Hudson Executive Capital LP increased its holdings in AtriCure by 18.4% in the 1st quarter. Hudson Executive Capital LP now owns 2,374,119 shares of the medical device company’s stock worth $48,717,000 after acquiring an additional 368,509 shares in the last quarter. First Light Asset Management LLC increased its holdings in AtriCure by 8.6% in the 1st quarter. First Light Asset Management LLC now owns 1,167,672 shares of the medical device company’s stock worth $23,961,000 after acquiring an additional 92,225 shares in the last quarter. Millennium Management LLC increased its holdings in AtriCure by 13.6% in the 1st quarter. Millennium Management LLC now owns 859,871 shares of the medical device company’s stock worth $17,645,000 after acquiring an additional 102,911 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in AtriCure by 3.8% in the 4th quarter. Royce & Associates LP now owns 290,799 shares of the medical device company’s stock worth $5,304,000 after acquiring an additional 10,599 shares in the last quarter. 87.52% of the stock is owned by institutional investors.

About AtriCure

AtriCure, Inc provides atrial fibrillation solutions 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; COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy; and EPi-Sense guided coagulation system used for the temporary cardiac signal sensing and recording during surgery.

Earnings History and Estimates for AtriCure (NASDAQ:ATRC)

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