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Abiomed's Preliminary Q3 Results Hint at Impressive Sales

Abiomed, Inc. ABMD recently announced preliminary results for the third quarter of fiscal 2016, wherein the top line is expected to beat the Zacks Consensus Estimate. The company is scheduled to release full financial results on Feb 4, 2016.

The provider of heart support technologies estimates revenues of roughly $85.8 million for the third quarter, reflecting year-over-year growth of 38%. Moreover, the figure is expected to outpace the Zacks Consensus Estimate of $79 million.

Per management, domestic revenues from Impella products are expected to surge 45% on a year-over-year basis to $75 million. In the quarter under review, U.S. patient usage is expected to improve 45%.

We are impressed with Abiomed’s preliminary results. If the company manages to outpace the Zacks Consensus Estimate in the third quarter of fiscal 2016, it will mark the sixth consecutive beat.

Abiomed’s Impella utilization is accelerating at a remarkable pace with an increasing number of hospitals and customer sites purchasing the same, asserting that the Impella product line is a significant growth catalyst. In the second quarter of fiscal 2016, Impella revenues grew 53% to $71.7 million, which helped generate 47% top-line growth.

At the end of the second quarter of fiscal 2016, Impella 2.5 had been installed at 1000 of about 1400 targeted hospital sites. Impella CP, on the other hand, has been placed at 739 hospital sites.

We are also upbeat about Abiomed’s healthy product pipeline which includes Abiomed’s upcoming products – Impella ECP (Expandable Cardiac Power), the Next Generation Impella CP, the Impella 5.5 and the longer term Impella BTR (Bridge to Recovery).

Zacks Rank & Other Stocks to Consider

Currently, Abiomed carries a Zacks Rank #2 (Buy).

Other well-placed stocks in the medical space are Exactech EXAC, DexCom DXCM and Fresenius Medical Care FMS. While Exactech sports a Zacks Rank #1 (Strong Buy), both DexCom and Fresenius Medical Care have a Zacks Rank #2.

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