ABIOMED Inc Shares Up Over 10%


Shares of the medical devices company ABIOMED Inc. (NASDAQ:ABMD) jumped over ten percent on Thursday after the company released its most recent quarterly and full-year earnings report.

The company, which specializes in medical devices that provide circulatory support, reported that total revenue for the fourth quarter reached $174 million USD, up 40%, and revenue for the full-year went up by 33% to 594 million, compared to that of the previous year.

The year’s operating income also jumped to $157.1 million, which is up 74% from the year before.

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According to ABIOMED Chairman, President and Chief Executive Officer, Michael R. Minogue, has said that the company “delivered another record quarter and fiscal year,” as the company received global regulatory approval on several products the US, Germany, and Japan.

The company’s most recent milestones include the recent approval from the US Food and Drug Administration (FDA) for its Impella CP with SmartAssist and Optical Sensor on April 2, and receiving European Approval for Impella 5.5, on April 4.

The first patient treated with Impella 5.5 in Europe was at the University Heart Center Hamburg in Germany, also in April.

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The company is predicting that total revenue for fiscal 2019 will be between $740 million to $770 million.

Minogue hopes fiscal 2019 will “be another outstanding year” and has said that he is “grateful to the dedicated employees and customers that have enabled [the company] to serve [its] patients and achieve [its] corporate goals around heart recovery.”

Shares of ABIOMED have gone up over ten percent and have already reached a high of $341.62 and a low of $307.99.

Comparatively, the company closed at a share value of $302.14 on Wednesday.

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About the author: Nicky graduated with a BA in Journalism and a Minor in English from Kwantlen Polytechnic University. She has written on a variety of different topics including fashion, beauty, entertainment and finance. Her favourite things to do are travel (when she can) and to spend time with friends and family, including her dog Kobe.