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 existing products, existing indications and existing countries.”
Abiomed said it now expects its fourth-quarter revenue to be in between $225 million and $235 million.
While ABMD shares saw a huge boost, MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose, too, albeit at a smaller, 1.4% clip this morning.