Shares Of Abiomed Tick Higher Following Q3 Guidance

Shares of

were trading higher by nearly 2 percent early Tuesday morning after the company

preliminary third quarter results. Abiomed said that its preliminary third quarter fiscal 2016 revenue rose 38 percent from a year ago to approximately $85.8 million. The company's estimate exceeds the $79 million Wall Street analysts were looking for. Abiomed added that revenue from Impella products grew 45 percent year over year to $75 million while US patient usage also grew 45 percent in comparison with the same quarter a year ago. Abiomed's CEO, Michael R. Minogue, will present at the JPMorgan Healthcare Conference on Wednesday at 7:30AM PT.