AtriCure (Nasdaq: ATRC) — an innovator in treatments for atrial fibrillation and left atrial appendage management — is enjoying a rise in its stock value today after releasing results that beat the Street.
Mason, Ohio–based AtriCure’s stock was up 67 cents per share, or 3.7%, closing at $18.99. The company reported yesterday evening that it revenue for the quarter ended Dec. 31 was up nearly 12% year-over-year, to $46.1 million. Analyst polled by Yahoo! Finance had predicted $45.4 million in revenue.
Analysts Danielle Antalffy and Rebecca Wang at Leerink suspect Atricure’s U.S. open business is “poised for growth acceleration in 2018 and beyond in this highly underpenetrated market,” and are giving the company’s stock an outperform rating.
AtriCure in September launched its AtriClip Pro-V left atrial appendage exclusion system. The AtriClip Pro-V has an open-ended design combined with a tip-first closure mechanism. The idea is to enable easier navigation and placement during minimally-invasive surgery.
The company earlier this month announced FDA 510(k) clearance for its AtriClip Flex V left atrial appendage closure device. AtriCure touts the Flex V as the first AtriClip device with a trigger release for deployment.
There’s potential for even more innovation. Among the world’s 100 largest medical device company’s, AtriCure was in the top 10 when it came to R&D spending as a percentage of revenue.
Atriure during the fourth quarter narrowed its losses year-over-year, losing $2.6 million, or 8 cents per share, versus a loss of $8.6 million, or 27 cents per share, for the same quarter a year before.
Revenue in 2017 was up about 12.6%, to $174.7 million, beating analysts’ prediction of $174.0 million.
The company had a net loss of $26.9 million, or 83 cents per share, for 2017, compared to a loss of $33.3 million, or $1.05 per share, for 2016. Analysts had predicted a loss of 96 cents per share in 2017.