We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Danvers, MA-based Abiomed Inc. , a leading developer, manufacturer and marketer of medical products, reported fourth-quarter fiscal 2017 earnings of 33 cents per share, which were in line with the Zacks Consensus Estimate. The figure surged 37.5% from the year-ago quarter.
In the reported quarter revenues increased roughly 33% year over year to $125 million approximately, outpacing the Zacks Consensus Estimate of $122 million. The year-over-year upside was supported by robust performance of the Impella heart pump product line.The Impella heart pump product line’s robust performance supported the year-over-year upside.
Stock Performance
Abiomed has had an impressive run on the NYSE over the last three months, gaining 22.3%, higher than the Zacks categorized Medical instruments sub-industry’s addition of almost 10.1%. Abiomed has had an impressive run on the bourse over the last three months. The company gained 22.3%, higher than the Zacks categorized Medical instruments sub-industry’s addition of almost 10.1%. The stock promises a long-term adjusted earnings growth of 28%.
Globally, Impella heart pump’s global revenues grew a strong 34% to $118.9 million in the quarter. Full-year worldwide Impella revenues totaled $423.7 million, up 37% on a year-over-year basis.
U.S. Impella revenues improved 32% to $108.2 million (driven by a 30% increase in patient utilization) while outside the U.S., revenues shot up 58% to $10.7 million. Germany accounted for the majority of the international revenues, which grew 63% on a year-over-year basis.
During the reported quarter, the installed base for Impella 2.5 heart pumps in the U.S. grew by 19 hospitals, raising taking the installed customer base total to 1,138 sites. The installed customer base for Impella CP heart pumps grew by 44 U.S. hospitals, reaching a total ofthe total to 1016.
Overall operating income for the reported quarter came in at $29 million, or 23.3% of operating margin (as a percentage of revenues), compared with $19.8 million or 21.1% in the prior-year quarter.
Abiomed’s gross margin in the fourth quarter was 84.6%, compared with 84.4% in the fourth quarter of fiscal 2016.
Financial Condition
Abiomed’s cCash and cash equivalents were $18.2 million at fourth-quarter end, amounting tototaling $277 million as of Mar 31, 2017. MNotably, management announced that the company currently has no debt.
Guidance
Abiomed forecasts fiscal 2018 revenues in the range of $440 million to $445 million. This marks an increase of 25–29% from the fiscal 2016 level. Operating margin is projected in the band of 22% to 24%.
Our Take
Abiomed posted promising fourth-quarter results of fiscal 2017, with revenues beating the Zacks Consensus Estimate and earnings meeting the mark.
We believe that robust demand for the Impella product line will continue to drive Abiomed’s top line over the long term. The company’s expanding product portfolio will improve its penetration intoo both the prophylactic high-risk PCI and cardiogenic shock patient market going forward. This is evident from the fact thatt both Impella 2.5 and CP continue to add centers in the U.S. New publications regarding the devices in leading medical journals help in promoting their utilization and effectiveness.
Although Abiomed’s significant international presence helps broaden its customer base among other positives, fluctuations in currency exchange rates can adversely impact the company’s international sales. Fluctuations in currency exchange rates can adversely impact Abiomed’s international sales, although the company’s international presence broadens its customer base.
Hologic has a long-term expected earnings growth rate of 11.33%. The stock has a solid one-year return of roughly 32.8%.
Sunshine Heart delivered a positive earnings surprise of 58.24% last quarter. The stock has an impressive EPS growth rate (last 3–5 years of actual earnings) of 22%.
Neovasc witnessedhas seen a stellar gain of 14% over the last three months. The company projects sales growth of 102.88% for the current year.
Looking for Ideas with Even Greater Upside?
Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more.
Image: Bigstock
Abiomed (ABMD) Q4 Earnings Meet, Revenues Beat Estimates
Danvers, MA-based Abiomed Inc. , a leading developer, manufacturer and marketer of medical products, reported fourth-quarter fiscal 2017 earnings of 33 cents per share, which were in line with the Zacks Consensus Estimate. The figure surged 37.5% from the year-ago quarter.
In the reported quarter revenues increased roughly 33% year over year to $125 million approximately, outpacing the Zacks Consensus Estimate of $122 million. The year-over-year upside was supported by robust performance of the Impella heart pump product line.The Impella heart pump product line’s robust performance supported the year-over-year upside.
Stock Performance
Abiomed has had an impressive run on the NYSE over the last three months, gaining 22.3%, higher than the Zacks categorized Medical instruments sub-industry’s addition of almost 10.1%. Abiomed has had an impressive run on the bourse over the last three months. The company gained 22.3%, higher than the Zacks categorized Medical instruments sub-industry’s addition of almost 10.1%. The stock promises a long-term adjusted earnings growth of 28%.
ABIOMED, Inc. Price, Consensus and EPS Surprise
ABIOMED, Inc. Price, Consensus and EPS Surprise | ABIOMED, Inc. Quote
Quarter Highlights
Globally, Impella heart pump’s global revenues grew a strong 34% to $118.9 million in the quarter. Full-year worldwide Impella revenues totaled $423.7 million, up 37% on a year-over-year basis.
U.S. Impella revenues improved 32% to $108.2 million (driven by a 30% increase in patient utilization) while outside the U.S., revenues shot up 58% to $10.7 million. Germany accounted for the majority of the international revenues, which grew 63% on a year-over-year basis.
During the reported quarter, the installed base for Impella 2.5 heart pumps in the U.S. grew by 19 hospitals, raising taking the installed customer base total to 1,138 sites. The installed customer base for Impella CP heart pumps grew by 44 U.S. hospitals, reaching a total ofthe total to 1016.
Overall operating income for the reported quarter came in at $29 million, or 23.3% of operating margin (as a percentage of revenues), compared with $19.8 million or 21.1% in the prior-year quarter.
Abiomed’s gross margin in the fourth quarter was 84.6%, compared with 84.4% in the fourth quarter of fiscal 2016.
Financial Condition
Abiomed’s cCash and cash equivalents were $18.2 million at fourth-quarter end, amounting tototaling $277 million as of Mar 31, 2017. MNotably, management announced that the company currently has no debt.
Guidance
Abiomed forecasts fiscal 2018 revenues in the range of $440 million to $445 million. This marks an increase of 25–29% from the fiscal 2016 level. Operating margin is projected in the band of 22% to 24%.
Our Take
Abiomed posted promising fourth-quarter results of fiscal 2017, with revenues beating the Zacks Consensus Estimate and earnings meeting the mark.
We believe that robust demand for the Impella product line will continue to drive Abiomed’s top line over the long term. The company’s expanding product portfolio will improve its penetration intoo both the prophylactic high-risk PCI and cardiogenic shock patient market going forward. This is evident from the fact thatt both Impella 2.5 and CP continue to add centers in the U.S. New publications regarding the devices in leading medical journals help in promoting their utilization and effectiveness.
Although Abiomed’s significant international presence helps broaden its customer base among other positives, fluctuations in currency exchange rates can adversely impact the company’s international sales. Fluctuations in currency exchange rates can adversely impact Abiomed’s international sales, although the company’s international presence broadens its customer base.
Zacks Rank & Key Picks
Abiomed has a Zacks Rank #3 (Hold).
Better-ranked stocks in the broader medical sector include Neovasc Inc. , Hologic, Inc. (HOLX - Free Report) and Sunshine Heart Inc . Neovasc and Hologic sport a Zacks Rank #1 (Strong Buy), while Sunshine Heart holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has a long-term expected earnings growth rate of 11.33%. The stock has a solid one-year return of roughly 32.8%.
Sunshine Heart delivered a positive earnings surprise of 58.24% last quarter. The stock has an impressive EPS growth rate (last 3–5 years of actual earnings) of 22%.
Neovasc witnessedhas seen a stellar gain of 14% over the last three months. The company projects sales growth of 102.88% for the current year.
Looking for Ideas with Even Greater Upside?
Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more.
Click here for a peek at this private information >>