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Abiomed’s (ABMD) Stock Price Rose 52% as Q3 Revenues Soared

Simon Mugo trader
Updated 1 Nov 2022

Trade Abiomed Stock Your capital is at risk

Key points:

  • Abiomed stock rose 52% after its quarterly revenues surged 11%.
  • The company also had multiple FDA approvals during the quarter.
  • Investors cheered the results, as evidenced by the rally.

The ABIOMED Inc (NASDAQ: ABMD) stock price rose 52% after its quarterly revenues rose 11% on a constant currency basis to $266 million. Investors cheered the Q3 results as the company booked its seventh double-digit quarterly revenue increase.

Today’s results cap off a few busy months for Abiomed, characterised by multiple FDA approvals and positive clinical trial results that have improved the medical device company’s standing as a leader in the heart disease field.

Also read: Five Best Pharmaceutical Stocks To Watch In 2022.

Abiomed’s Impella Low Profile Sheath was granted FDA 501(k) clearance on October 17, 2022, which reduces the previous sheath’s outer diameter by 2 Fr. It is the first sheath specifically engineered to be compatible with the Impella single-access technique.

Other highlights include the release of the RESTORE EF study results showing that Impella-supported high-risk percutaneous coronary intervention (PCI) led to significant improvements in left ventricular ejection fraction (LVEF).

Investors cheered all the positive milestones that allowed Abiomed to generate the impressive results showcased today.

Michael R. Minogue, Abiomed’s Chairman, President and CEO, said: “In our fiscal Q2, Abiomed delivered another double-digit constant currency revenue growth quarter despite the challenging environment in July. This performance highlights the resiliency of our product portfolio, which enables the treatment of urgent and emergent patient populations.”


“We also made significant progress on high-risk PCI, STEMI and cardiogenic shock publications and innovation milestones for the Low-Profile Sheath, Breethe Oxy-1 ECMO System, Impella RP Flex and Impella ECP. Our innovation, clinical evidence and dedicated field team will enable long-term, sustainable growth as we become the global standard for heart recovery.”

Abiomed remains a leader in designing and manufacturing medical devices targeted at treating heart conditions, which is unlikely to change given the company’s significant investments in developing new devices and improving existing ones.

So, would I buy AMD stock? The short answer is no, not after today’s massive rally. I would wait for a significant pullback before buying since most parabolic rallies are usually followed by substantial pullbacks.

*This is not investment advice.

The Abiomed stock price.

Abiomed stock price 01-11-2022
Source: Tradingview

The Abiomed stock price rose 52.18% to trade at $382.13, rising from Monday’s closing price of $251.11.

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading