Abiomed shares dip despite Q2 beat-and-raise

Shares in Abiomed (NSDQ:ABMD) have fallen slightly today after the medical device maker squarely beat expectations on Wall Street with its 2nd quarter earnings results.

The Danvers, Mass.-based company posted profits of $37.4 million, or 82¢ per share, on sales of $132.5 million for the 3 months ended June 30, seeing massive bottom-line growth of $189

After adjusting for pretax gains, earnings per share were 45¢, 3¢ ahead of the 42¢ consensus on The Street, where analysts were looking for sales of $130.9 million.

“We have been notified by MHLW of Japanese reimbursement for Impella beginning in September allowing our introduction into the world’s second largest medical device market. Our continued execution validates Abiomed as one of the fastest growing medical technology companies with increasing GAAP profitability and no debt. I am proud of our team’s ability to consistently achieve our strategic initiatives and execute on our tactical plan as Abiomed builds the field of heart recovery,” prez & CEO Michael Minogue said in a prepared statement.

Abiomed lifted its guidance for the full fiscal year, expecting to see sales of between $560 and $575 million, up from its previous guidance of between $555 million and $575 million. The company said it is maintaining its GAAP operating margin guidance of between 22% and 24%.

Shares in Abiomed have dropped 0.7% so far today, down 96¢ at $143.87 as of 9:52 a.m. EDT.

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