Abiomed has topped Wall Street consensus this quarter and has raised its outlook for the year.

Omar Ford

November 1, 2018

1 Min Read
One of the Top 25 Medtech M&A Targets Has Strong Quarter
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Abiomed dominated in its recent quarterly earnings. The Danvers, MA-based company posted revenues of $181.8 million topping analyst consensus of $175.2 million.

The cardiac device maker also had $1.09 per share edging out analysts’ consensus of 74 cents EPS.

As a result, Abiomed said it is again increasing the low end of its fiscal year revenue guidance to $765 million to $770 million (up 29% to 30% over the prior fiscal year). This compares to the post fiscal first quarter guidance of $755 million to $770 million (up 27% to 30% over the prior fiscal year) and the company's initial forecast of $740 million to $770 million (up 25% to 30% from the prior year). Abiomed said it is maintaining its fiscal year guidance for GAAP operating margin in the range of 28% to 30%.

“We have established a strong foundation with our innovation and technology, balance sheet and intellectual property portfolio,” Michael R. Minogue, chairman, president and CEO, Abiomed, said in a release. “We are executing our plan for sustainable growth while helping to improve patient outcomes focused on native heart recovery.”

Abiomed has been performing well and landed on the 25 most attractive medtech companies on the M&A radar. The company, which acquired the Impella heart pump technology back in 2005, made MD+DI's list of Company of the Year finalists in 2017.Earlier this year, FDA approved the company's Impella CP heart pump with SmartAssist, which uses an optical sensor.

About the Author(s)

Omar Ford

Omar Ford is MD+DI's Editor-in-Chief. You can reach him at [email protected].

 

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