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Abiomed ticks up on Street-beating Q4

Abiomed (NSDQ:ABMD) shares ticked up today on fourth-quarter results that topped the consensus forecast.

ABMD shares were up 0.4% at $324.18 per share in mid-morning trading today, rebounding from a -8% slide to $322.94 per share upon the release of the earnings report yesterday. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down -0.5%.

The Danvers, Mass.-based company posted profits of $56.9 million, or $1.24 per share, on sales of $241.2 million for the three months ended March 31, 2021, for a 78.8% bottom-line gain on sales growth of 16.7%.

Adjusted to exclude one-time items, earnings per share were also $1.24, 14¢ ahead of Wall Street, where analysts were looking for sales of $230.4 million.

“At Abiomed, our patients-first mindset gives us purpose and courage and we always seek opportunities to lead, manage, adapt and execute,” Abiomed chairman, president & CEO Mich…

Abbott halts heart pump trial

(Image courtesy of Abbott)

Abbott (NYSE:ABT) has halted a clinical trial comparing its HeartMate II ventricular assist device with the Abiomed (NSDQ:ABMD) Impella heart pumps.

The Abbott Park, Ill.-based company suspended enrollment in the Shield II investigational device exemption study after a report of decreased impeller speed at the end of a procedure.

The HeartMate II is a high-speed rotary blood pump that produces an axial flow and therefore no pulsatile action. The impeller is its only moving part, which spins at rates between 2,000 and 3,000 revolutions per minute, according to the University of Michigan Frankel Cardiovascular Center.

“The impeller is suspended within the pump housing through a combination of passive magnets and a hydrodynamic thrust bearing,” the university’s website says. “This hydrodynamic suspension is achieved by a gentle incline on the upper surfaces of the impeller blades. When the impeller spins, …

MedTech 100 Roundup: Small slide continues

On the back of several weeks of new records and strong performances, the medtech industry has finally hit a snag in its recent ascent.

MassDevice‘s MedTech 100 index ended the week (Feb. 26) at 106.65 points, marking a 1.9% dip from the 108.72-point mark set one week before (Feb. 19). This highlights a similar drop from the week prior, when the index slid -1.7% from 110.63 points on Feb. 12.

The slide for the index was inevitable, given the heights to which it had been rising, but it is stark after exactly two weeks ago, on Monday, Feb. 15, the index hit its highest mark ever, though, rising to 110.96 points. That mark set an all-time best for the index, which had previously been rising for practically all of 2021. The index had never reached even the 100-point mark before November 2020.

Still, the industry is in much better condition than it was around this time last year. Medtech’s latest mark means the index has risen 15.5% from the pre-COVID-19 pande…

DTW Podcast: Geoff Martha updates Medtronic’s new course; AJAX CEO Duke Rohlen is funding innovation differently

Medtronic CEO Geoff Martha and Ajax CEO Duke Rohlen share insights and wisdom on this episode of the podcast.

Less than a year into his role as CEO, Geoff Martha and the Medtronic leadership has overseen a significant reorganization of medtech’s largest player.

In our closing keynote conversation, Martha says the company is clearing a minor COVID-19 bump and sees open road for the company to continue to grab share from competitors.

Martha details what products are gaining the most traction while also identifying those that still have some ground to gain.

We also discuss: When it may bring its renal denervation project to the FDA Why Hugo the surgical robot will be worth the wait (and why development has taken more than a decade) Whether or not Medtronic will collaborate more with private equity firms, early-stage incubators and maybe even SPACs? What will the company’s acquisition strategy look like in 2021. And why. Why the price-cutting for drug-eluting …

Abiomed CEO Michael Minogue appointed as AdvaMed chairperson

Medtech trade group AdvaMed today said it has appointed Abiomed (NSDQ:ABMD) president and CEO Michael Minogue as chairperson of the AdvaMed board of directors, effective immediately.

Minogue will serve as chairperson of the trade association’s board of directors for two years. He has been a member of the board since 2007 and a member of the board executive committee since 2009.

Throughout his tenure at AdvaMed, Minogue has served on several committees, including those overseeing membership, inclusion and diversity, payment policy, ethics and international policy. He was elected as the first chairperson of the newly created emerging growth company council (now AdvaMed Accel) in 2011 and served as the chairperson until 2014. He also co-founded MedTechVets.org, which is served as chairperson until 2019.

Get the full story on our sister site, MassDevice.

Abiomed CEO Michael Minogue appointed as AdvaMed chairperson

Medtech trade group AdvaMed today said it has appointed Abiomed (NSDQ:ABMD) president and CEO Michael Minogue as chairperson of the AdvaMed board of directors, effective immediately.

Minogue will serve as chairperson of the trade association’s board of directors for two years. He has been a member of the board since 2007 and a member of the board executive committee since 2009.

Throughout his tenure at AdvaMed, Minogue has served on several committees, including those overseeing membership, inclusion and diversity, payment policy, ethics and international policy. He was elected as the first chairperson of the newly created emerging growth company council (now AdvaMed Accel) in 2011 and served as the chairperson until 2014. He also co-founded MedTechVets.org, which is served as chairperson until 2019.

Minogue has also been president and CEO of Abiomed for 17 years. Prior to joining the company, he held numerous leadership roles at General Electric M…

Abiomed touts results of Impella study

Abiomed (NSDQ:ABMD) recently announced positive results from a study of its Impella 5.5 heart pump with SmartAssist.

Danvers, Mass.-based Abiomed’s study across 16 U.S. and German locations found a 79% survival rate at explant in 356 patients treated with Impella 5.5 with SmartAssist. A majority of surviving patients recovered native heart function without needing further mechanical support or a heart transplant, according to a news release.

Abiomed’s Impella 5.5 is a minimally-invasive device that provides full cardiac flow and stabilizes the patient by increasing cardiac power output, unloading the left ventricle and perfusing the coronaries and end organs. The SmartAssist feature is designed to assist in weaning patients off of the device and has a fiberoptic pressure sensor for aiding in deploying and repositioning the pump.

Data from the trial, which is the first large, multicenter study observing survival rates for Impella 5.5 with Smar…

MedTech 100 roundup: January ends with a dip

After spending several weeks on the ascent, medtech stocks leveled out a bit to end January, ending a run of several new highs in 2021.

MassDevice‘s MedTech 100 index ended the week (Jan. 29) at 104.05 points, marking a -2.2% drop from the 106.4-point mark set at the end of the previous week (Jan. 22).

The index had previously reached 107.4 points on Jan. 20, topping the all-time best of 106.81 points set on Jan. 8. That mark represents a 16% jump from the pre-pandemic high of 92.32 set on Feb. 19, 2020, and a 72.9% overall leap from the lowest point of 62.13 set on March 23, 2020.

However, the drop from that high point to medtech’s current position is approximately -3.1%, although the industry still remains well above its pre-pandemic high (12.7%) and its mid-pandemic low point (67.5%).

Here are some of the best-performing medtech stocks from 2020.

While medtech saw a slight decline from the previous week, both of the overall markets fared …

Jefferies remains optimistic about Abiomed

Analysts are expressing optimism over Abiomed (NSDQ:ABMD) after the company’s third-quarter results saw its stock soar yesterday.

Upon releasing the quarterly report, Abiomed’s stock rose 12.4% at $369.45 in the early morning yesterday. The stock price rose as high as $387.23 yesterday but has since dropped to $341.42 at midday today.

Jefferies analysts released a report highlighting the long-term growth prospects for Abiomed’s Impella heart pump for high-risk percutaneous coronary intervention (PCI) and the strength of the company’s position as it navigates through the COVID-19 pandemic.

Even with COVID-19-related headwinds, Abiomed offered improved guidance for revenue growth between 9% and 14% in the fourth quarter, leading the analysts to feel bullish about the company’s prospects and list it as a “buy” option.

Additionally, analysts are buoyed by Abiomed’s reports of ahead-of-schedule technologi…

Abiomed skyrockets on Street-beating Q3

Abiomed (NSDQ:ABMD) shares shot up this morning on third-quarter results that topped the consensus forecast.

Shares of ABMD were up 12.4% at $369.45 per share in early-morning trading today.

The Danvers, Mass.-based oxygenation device maker posted profits of $61.9 million, or $1.35 per share, on sales of $231.7 million for the three months ended Dec. 31, 2020, for a -10.6% bottom-line slide on sales growth of 4.5%.

Adjusted to exclude one-time items, earnings per share were also $1.35, 23¢ ahead of Wall Street, where analysts were looking for sales of $225.6 million.

“Abiomed delivered a record revenue quarter as we continue to remain both focused and committed to our mission of recovering hearts and saving lives despite the challenging COVID environment” Abiomed chairman, president & CEO Michael R. Minogue said in a news release. “We are excited to close Q4 as Abiomed 2.0 and enter Fiscal Year 2022 with our best ever clinical outcomes from ex…

These medtech stocks performed the best in 2020

(From Ishant Mishra on Unsplash)

While 2020 did not go as planned for anyone, with the twists and turns came opportunities for medtech companies to power forward.

Innovations came both as a result of the COVID-19 pandemic and perhaps in spite of the challenges brought on by the virus, highlighted by the increased efforts to produce vaccines and testing while pivoting to artificial-intelligence-based and remote care.

Companies like Moderna arose from nowhere, climbing from a share price of $19.52 to $104.47 over the course of the year as it established itself as a frontronner in the race to get a COVID-19 vaccine to the public, eventually becoming the second vaccine authorized in the U.S.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has hit new heights over the course of 2020, indicating the upward trajectory of the industry. Over the course of the year, the index grew from a total of $86.8…

These medtech stocks performed the best in 2020

(From Ishant Mishra on Unsplash)

While 2020 did not go as planned for anyone, with the twists and turns came opportunities for medtech companies to power forward.

Innovations came both as a result of the COVID-19 pandemic and perhaps in spite of the challenges brought on by the virus, highlighted by the increased efforts to produce vaccines and testing while pivoting to artificial-intelligence-based and remote care.

Companies like Moderna arose from nowhere, climbing from a share price of $19.52 to $104.47 over the course of the year as it established itself as a frontronner in the race to get a COVID-19 vaccine to the public, eventually becoming the second vaccine authorized in the U.S.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has hit new heights over the course of 2020, indicating the upward trajectory of the industry. Ove…