AtriCure (NASDAQ:ATRC) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

AtriCure (NASDAQ:ATRC) released its quarterly earnings results on Wednesday. The medical device company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07, Zacks reports. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%.

AtriCure Stock Performance

Shares of NASDAQ:ATRC traded up $0.85 during trading on Wednesday, hitting $42.36. 534,569 shares of the company traded hands, compared to its average volume of 578,629. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -51.04 and a beta of 1.46. AtriCure has a one year low of $18.94 and a one year high of $43.11. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $35.39 and its 200-day moving average is $31.09.

Analyst Ratings Changes

A number of research firms have recently commented on ATRC. Oppenheimer boosted their target price on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group boosted their price objective on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday. Canaccord Genuity Group raised their price objective on AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Needham & Company LLC upped their target price on AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.44.

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.