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Abiomed Is Still in the Recovery Ward

TheMotleyFool

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Abiomed (NASDAQ: ABMD), a medical device maker focused on temporary heart pumps, reported its fiscal first-quarter 2020 results on Thursday.

The company is still trying to undo the damage caused in February by a confusing letter sent by the Food and Drug Administration to healthcare providers related to Abiomed's Impella RP pump. The FDA issued another letter in May stating that the Impella RP was safe and effective, but the company hasn't had enough time to spread the update. That caused it to report decelerating revenue growth for the second quarter in a row, and management reined in its full-year revenue guidance in response.

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