On May 28, we upgraded leading cardiac assist devices maker -
) to Outperform based on its record fourth-quarter fiscal 2013
ABIOMED INC (ABMD): Free Stock Analysis
NATUS MEDICAL (BABY): Free Stock Analysis
CYBERONICS INC (CYBX): Free Stock Analysis
INTUITIVE SURG (ISRG): Free Stock Analysis
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Why the Upgrade?
Abiomed's fourth-quarter fiscal 2013 earnings per share (EPS) of
9 cents beat the Zacks Consensus Estimate by 28.6%. The
Mass.-based company registered a profit of $3.7 million,
substantially up 42.3% year over year.
Revenues for the aforementioned quarter climbed 17% year over
year to $43.7 million, beating the Zacks Consensus Estimate of
$42 million. This marked the 14th straight quarter, in which
Abiomed recorded year-over-year double-digit growth.
Given its unique technology, Abiomed enjoys strong demand for its
Impella products. The company posted record revenues in fiscal
2013. Moreover, patient support reached a record high in the same
year. This is evident from 31% year-over-year growth in global
Impella sales in fiscal 2013, which was above the company's
Abiomed is a medical device company with a blue streak growth
path. The guidance provided for fiscal 2014 appears to be
encouraging. Both the Impella CP and RP are considered future
growth drivers for the company. Multiple near-term drivers,
including new products and clinical trials, should further boost
the use of Impella. Abiomed also boasts a solid cash position.
Other Stocks to Consider
Besides Abiomed, other stocks in the medical device sector that
are currently performing well include
). Cyberonics and Natus carry a Zacks Rank #1 (Strong Buy), while
Intuitive is a Zacks Rank #2 (Buy) stock.