Abiomed (NSDQ:ABMD) shares surged to an all-time high today after the heart pump maker crushed expectations for its fiscal 3rd quarter and raised its outlook on the rest of the year.
Danvers, Mass.-based Abiomed posted profits of $12.7 million, or 30¢ per share, on sales of $62.0 million for the 3 months ended Dec. 31, 2014, marking a bottom-line gain of 188.7% on sales growth of 34.2% compared with Q3 2014.
Analysts were looking for earnings per share of just 4¢ on sales of only $53.5 million. The news sent ABMD shares to an all-time high of $53.89 today; the stock was trading up 30.9% to $50.57 per share in mid-day activity.
Abiomed, which yesterday said it won a humanitarian device exemption from the FDA for its Impella RP device, also boosted its top-line outlook for the rest of fiscal 2015, saying it now expects revenues of $223 million to $226 million, up from prior guidance of $209 million to $212 million.
“The company delivered a record performance. These outstanding results are a testament to our customers, our Impella technology and our dedicated team. It demonstrates the growing clinical need for percutaneous heart pumps that improve patient care and enable minimally invasive procedures," chairman, president & CEO Michael Minogue said in prepared remarks.
