IBB - Abiomed is on track to become a top gainer in S&P 500

As the year closes out, Abiomed (ABMD) is leading the S&P 500 constituents to become the highest gainer for 2020. With the 2.6% added today, the total return for the year is reaching 83.4% YTD, well outperforming the 17.8% gain in the SPDR S&P 500 Trust ETF (SPY). The share performance is notable given the 47.5% loss suffered last year while the SPY rose 31.2%While the pandemic headwinds drove its TTM revenue to fall 2.1% from the previous year, Abiomed’s gain eclipsed the industry with the iShares U.S. Medical Devices ETF (IHI) rising only 22.6% and even the iShares Nasdaq Biotechnology ETF (IBB) making a gain of only 27.8%.The company reached notable milestones in 2020, including the 510(k) clearance received in October for Abiomed Breethe OXY-1 System. Last week, the company announced that the all-in-one, compact cardiopulmonary bypass system was used to treat the first two patients.Just over a year after FDA approval for Impella 5.5 with SmartAssist heart pump, touted as

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Abiomed is on track to become a top gainer in S&P 500