Abiomed (NSDQ:ABMD) stock is recovering slightly today — a day after its stock fell on fourth-quarter results.
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%.
The company’s Q4 results actually beat The Street. 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 Michael R. Minogue said in a news release. “For this fiscal year, I would like to thank our employees and customers for their courage, dedication to patients and leadership throughout the pandemic. We exited the year slightly up in revenue, profitable and stronger than ever before.”
Abiomed said it now expects its global revenue for fiscal 2022 to range between $990 million and $1.03 billion, representing growth between 17% and 22% from 2021.