Good News From the FDA Should Fuel Abiomed’s Growth Into the Future
Abiomed (NASDAQ: ABMD) has enjoyed tremendous success over the last seven years. At the start of 2013, the company traded at $14 and today its stock price is $183. The medical device maker's main product is the Impella line of heart pumps, devices that are inserted percutaneously (through the skin) which improve blood flow and act as a heart pump. These devices are the only approved percutaneous heart pumps for treating patients with advanced heart failure or cardiogenic shock due to a heart attack.
Nonetheless, 2019 has not been kind to Abiomed as a series of bad news items hit the company -- evidenced by the fact that the company was trading at $351 to begin the year -- seeing a loss of almost half its value by today. So, what is going on with this health stock that has gone from analysts pegging it to reach as high as $480 a share this year to it trading around $180 currently?
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Source Fool.com
