Zacks: Brokerages Anticipate Acutus Medical, Inc. (NASDAQ:AFIB) to Post -$0.83 Earnings Per Share

Equities analysts expect Acutus Medical, Inc. (NASDAQ:AFIBGet Rating) to announce ($0.83) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Acutus Medical’s earnings. Acutus Medical posted earnings of ($0.89) per share during the same quarter last year, which indicates a positive year over year growth rate of 6.7%. The business is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Acutus Medical will report full-year earnings of ($3.70) per share for the current year. For the next year, analysts anticipate that the business will report earnings of ($2.65) per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Acutus Medical.

Acutus Medical (NASDAQ:AFIBGet Rating) last released its quarterly earnings results on Wednesday, March 30th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.21). The company had revenue of $4.36 million during the quarter, compared to analysts’ expectations of $4.30 million. Acutus Medical had a negative net margin of 740.61% and a negative return on equity of 127.21%.

AFIB has been the topic of several recent research reports. BTIG Research raised shares of Acutus Medical from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 27th. William Blair reaffirmed a “market perform” rating on shares of Acutus Medical in a research note on Thursday, March 31st. Finally, Zacks Investment Research raised shares of Acutus Medical from a “sell” rating to a “hold” rating in a research note on Thursday, June 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.60.

Shares of AFIB opened at $0.65 on Thursday. Acutus Medical has a fifty-two week low of $0.57 and a fifty-two week high of $17.83. The firm’s 50 day moving average price is $0.92 and its 200 day moving average price is $1.98. The company has a market cap of $18.31 million, a P/E ratio of -0.14 and a beta of 1.97. The company has a quick ratio of 5.01, a current ratio of 6.03 and a debt-to-equity ratio of 0.59.

In other news, Director R Scott Huennekens sold 60,000 shares of the company’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $0.58, for a total value of $34,800.00. Following the completion of the transaction, the director now owns 507,509 shares in the company, valued at approximately $294,355.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 24.40% of the company’s stock.

Several institutional investors have recently modified their holdings of AFIB. Goldman Sachs Group Inc. boosted its stake in Acutus Medical by 11,661.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,391,906 shares of the company’s stock worth $4,746,000 after purchasing an additional 1,380,072 shares during the period. Millennium Management LLC boosted its stake in Acutus Medical by 261.3% during the 3rd quarter. Millennium Management LLC now owns 1,377,280 shares of the company’s stock worth $12,175,000 after purchasing an additional 996,088 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Acutus Medical by 511.0% during the 4th quarter. Parametric Portfolio Associates LLC now owns 507,770 shares of the company’s stock worth $1,731,000 after purchasing an additional 424,669 shares during the period. GSA Capital Partners LLP boosted its stake in Acutus Medical by 461.4% during the 1st quarter. GSA Capital Partners LLP now owns 481,303 shares of the company’s stock worth $669,000 after purchasing an additional 395,576 shares during the period. Finally, Granite Point Capital Management L.P. acquired a new stake in Acutus Medical during the 1st quarter worth $499,000. Institutional investors and hedge funds own 62.97% of the company’s stock.

About Acutus Medical (Get Rating)

Acutus Medical, Inc, an arrhythmia management company, designs, manufactures, and markets a range of tools for catheter-based ablation procedures to treat various arrhythmias in the United States and internationally. The company's product portfolio includes novel access sheaths, transseptal crossing tools, diagnostic and mapping catheters, conventional and contact force ablation catheters, and mapping and imaging consoles and accessories, as well as supporting algorithms and software programs.

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