ABMD - Why Abiomed Stock Popped Today
On Thursday morning, medical devices specialist Abiomed (NASDAQ: ABMD) released its financial reports for the third quarter of its fiscal year 2021, which ended on Dec. 31, 2020. Investors seem to be happy with the company's performance during this quarter: Abiomed's stock is up by 7.7% as of 1:26 p.m. EST, after jumping by as much as 17.9% earlier today.
Abiomed reported $231.7 million in revenue, representing a 4.5% increase compared to the third quarter of the previous fiscal year. The company's top line also came in above the average analyst estimate of $225.59 million. Abiomed's Impella heart pumps did a lot of the heavy lifting for the company during this period. Impella product revenue rose 4% year over year to $220.8 million. Meanwhile, the company reported a net income of $61.9 million, or $1.35 on a per-share basis.
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Why Abiomed Stock Popped Today