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Shareholders of Acutus Medical, Inc. (NASDAQ:AFIB) will be pleased this week, given that the stock price is up 15% to US$13.65 following its latest quarterly results. Revenues were 29% better than analyst models forecast, at US$3.6m. Perhaps unsurprisingly, statutory losses were also slightly larger than expected, at US$1.04 per share, reflecting the higher costs which were likely incurred in generating that revenue. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.
Check out our latest analysis for Acutus Medical
Taking into account the latest results, the most recent consensus for Acutus Medical from five analysts is for revenues of US$24.7m in 2021 which, if met, would be a sizeable 136% increase on its sales over the past 12 months. Losses are predicted to fall substantially, shrinking 39% to US$3.79. Before this earnings announcement, the analysts had been modelling revenues of US$24.5m and losses of US$2.85 per share in 2021. While this year's revenue estimates held steady, there was also a regrettable increase in loss per share expectations, suggesting the consensus has a bit of a mixed view on the stock.
The consensus price target fell 11% to US$18.75per share, with the analysts clearly concerned by ballooning losses. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic Acutus Medical analyst has a price target of US$26.00 per share, while the most pessimistic values it at US$11.00. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. We can infer from the latest estimates that forecasts expect a continuation of Acutus Medical'shistorical trends, as the 215% annualised revenue growth to the end of 2021 is roughly in line with the 188% annual revenue growth over the past year. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 7.9% annually. So it's pretty clear that Acutus Medical is forecast to grow substantially faster than its industry.