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ABIOMED (ABMD) Earnings Beat Estimates in Q3, Revenues Miss

Headquartered in Danvers, MA, ABIOMED Inc. ABMD is engaged in developing, manufacturing and marketing of medical products, designed to assist or replace the pumping function of the failing heart.

Currently, ABIOMED has a Zacks Rank #4 (Sell) but that could change following its third quarter fiscal 2020 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here) the complete list of today’s Zacks #1 Rank stocks here). We have highlighted some of the key details from the just-released announcement below:

Earnings: ABIOMED reported third-quarter fiscal 2020 earnings per share (EPS) of $1.51, outpacing the Zacks Consensus Estimate of $1.09. The figure surged 55.7% year over year.

Revenues: ABIOMED’s revenues came in at $221.6 million, which lagged the Zacks Consensus Estimate of $227 million. However, the metric improved 10.5% from the prior-year quarter.

ABIOMED, Inc. Price, Consensus and EPS Surprise

ABIOMED, Inc. price-consensus-eps-surprise-chart | ABIOMED, Inc. Quote

Key Stats: U.S. Impella product revenues totaled $185.6 million, showing an increase of 8% year over year. Per management, U.S. patient usage of the Impella heart pumps rose 5% in the quarter.

For fiscal 2020, ABIOMED expects revenues within $846-$877 million, mirroring an increase of 10-14%. This compares to the earlier-projected range of $885-$925 million, calling for an increase of 15-20% year over year.

Check back later for our full write up on this ABIOMED report later!

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