Shares of AtriCure (NASDAQ: ATRC) plummeted 10.01% in pre-market trading on Wednesday following the company's first quarter 2025 earnings report and subsequent analyst price target cuts. The medical device maker continues to face headwinds in its minimally invasive (MIS) ablation business due to competition from pulsed field ablation (PFA) technologies.
AtriCure reported Q1 revenue of $123.6 million, up 13.6% year-over-year, with strong performance in pain management and appendage management franchises. However, the company's US MIS ablation sales declined approximately 31% compared to the prior year period. CEO Michael Carrel acknowledged ongoing pressure in this segment, stating, "We anticipate that is going to happen for the rest of the year."
Following the earnings release, multiple analysts lowered their price targets on AtriCure stock. Needham cut its target to $44 from $51, while UBS reduced its target to $58 from $60. The company maintained its full-year 2025 revenue guidance of $517 million to $527 million but raised its adjusted EBITDA outlook, suggesting efforts to improve profitability amid challenges in the MIS ablation market.
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