Market Overview

Abiomed's Stock Gains Following Positive Q3, Revised Guidance

Share:

Shares of ABIOMED, Inc. (NASDAQ: ABMD) were trading higher by 4 percent early Thursday morning after the company reported its third quarter results.

Abiomed said that it earned $0.23 per share in the third quarter on revenue of $85.79 million. Wall Street analysts were expecting the company to earn $0.15 per share on revenue of $80 million.

Income from operations rose to $17.5 million during the quarter from $13.7 million a year ago. The company noted that the installed base for its Impella 2.5 heart pumps grew by an additional 20 hospitals, bringing its total count to 1,020 sites. In addition, 49 new hospitals purchased Impella CP, bringing the total number to 788 sites with Impella CP heart pumps.

Looking forward to the full fiscal year, Abiomed raised its sales outlook from $305 million to $315 million to $326 million - exceeding the $314.7 million Wall Street analysts were expecting.

"I am proud of our discipline and execution that we have demonstrated in achieving this early phase of success. We are operationally prepared with our sector expertise to take advantage of this unique organic opportunity," said Michael R. Minogue, Chairman, President and Chief Executive Officer, Abiomed. "Abiomed is revolutionizing the treatment for heart failure by focusing exclusively on the heart muscle and with new indications, new geographies and new products on the horizon; the Impella platform has a long runway for growth."

Posted-In: Abiomed Heart Pumps Impella 2.5 Impella CPEarnings News Guidance Movers

 

Related Articles (ABMD)

View Comments and Join the Discussion!

Chile ETF Resilient In Face Of Copper Slump...Sort Of

Argus' John Staszak Double-Upgrades Mattel To Buy From Sell