Abiomed ABMD turned in another quarter characterized by Impella expansion and legacy product contraction. The firm remains roughly on target to meet our expectations for the year, and we don't anticipate changing our fair value estimate. For the fiscal second quarter, sales were flat year over year at about $20 million, with 26% Impella growth offset by a 28% decline in legacy products. We were impressed with the firm's low cash-burn rate of $2 million in the quarter. With $52 million in cash and investments, Abiomed looks set to survive several more years until it is ready to report long-term clinical data on the Impella 2.5. Until then, though, financial results may remain lackluster, especially if the firm can't stabilize its legacy products.
Get our full take on
Abiomed, Inc.
See our complete company report and outlook--including fair value estimate, consider buying and selling prices, risk rating, bull and bear arguments,
and star rating--with a free two-week Morningstar.com Premium Membership trial.
You will also get complete access to all 2,000 Stock Analyst Reports, 2,000 Mutual Fund Analyst Reports, and Morningstar's award-winning Portfolio Management and Screening tools.
Start my free trial
Learn more about Premium Membership
View Sample Analyst Report
More Analyst Research
Abiomed, Inc. Full Analyst Report
Analyst Notes
08-06-09 | 9:05AM Abiomed Reports In-Line 1Q
05-18-09 | 9:18AM Abiomed Issues Weak Outlook
| 
