AtriCure (ATRC) Soars 6.2%: Is Further Upside Left in the Stock?

AtriCure (ATRC) shares rallied 6.2% in the last trading session to close at $28.8. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.5% loss over the past four weeks.The sharp rise in ATRC shares can be attributed to renewed investor optimism surrounding the company's long-term growth prospects following its presentation at the Goldman Sachs Global Healthcare Conference, where management reiterated its goal of reaching $1 billion in revenue by 2030 and highlighted the significant market-expanding potential of its BoxX-NoAF and LeAAPS clinical trials. Investors also appear to be re-pricing the value of these pivotal studies, particularly after AtriCure disclosed accelerated enrollment in the BoxX-NoAF trial and emphasized that positive outcomes could substantially broaden its addressable market.This medical device maker is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of +250%. Revenues are expected to be $151.5 million, up 11.3% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 a member of the Zacks Medical - Products industry. One other stock in the same industry, QuidelOrtho (QDEL), finished the last trading session 4.1% higher at $13.67. QDEL has returned 10.2% over the past month.For QuidelOrtho, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.04. This represents a change of -66.7% from what the company reported a year ago. QuidelOrtho currently has a Zacks Rank of #3 (Hold).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks