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AtriCure (ATRC) Moves 7.5% Higher: Will This Strength Last?
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AtriCure (ATRC - Free Report) shares ended the last trading session 7.5% higher at $40.83. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.6% loss over the past four weeks.
AtriCure recorded a strong price increase following its better-than-expected fourth-quarter 2022 performance. The company’s loss per share was narrower than the Zacks Consensus Estimate, whereas the revenues topped the estimates. The company had registered robust year-over-year uptick in overall top line as well as U.S. and International revenues. Also, the latest Zacks Consensus Estimate shows significant upward revision for its quarterly revenues compared to the year-ago reported number. The company is expected to release its first-quarter 2023 earnings on May 2.
This medical device maker is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of -3%. Revenues are expected to be $87.43 million, up 17.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For AtriCure, the consensus EPS estimate for the quarter has been revised 3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ATRC going forward to see if this recent jump can turn into more strength down the road.
AtriCure is part of the Zacks Medical - Products industry. Royal Philips (PHG - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $16.18. PHG has returned -2.9% in the past month.
Philips' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. Compared to the company's year-ago EPS, this represents a change of -40.6%. Philips currently boasts a Zacks Rank of #3 (Hold).
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AtriCure (ATRC) Moves 7.5% Higher: Will This Strength Last?
AtriCure (ATRC - Free Report) shares ended the last trading session 7.5% higher at $40.83. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.6% loss over the past four weeks.
AtriCure recorded a strong price increase following its better-than-expected fourth-quarter 2022 performance. The company’s loss per share was narrower than the Zacks Consensus Estimate, whereas the revenues topped the estimates. The company had registered robust year-over-year uptick in overall top line as well as U.S. and International revenues. Also, the latest Zacks Consensus Estimate shows significant upward revision for its quarterly revenues compared to the year-ago reported number. The company is expected to release its first-quarter 2023 earnings on May 2.
This medical device maker is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of -3%. Revenues are expected to be $87.43 million, up 17.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For AtriCure, the consensus EPS estimate for the quarter has been revised 3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ATRC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
AtriCure is part of the Zacks Medical - Products industry. Royal Philips (PHG - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $16.18. PHG has returned -2.9% in the past month.
Philips' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. Compared to the company's year-ago EPS, this represents a change of -40.6%. Philips currently boasts a Zacks Rank of #3 (Hold).