This Medical Device Player Could Be a Top-Notch Pick in 2020
As the coronavirus pandemic has progressed, healthcare companies engaged in the development and manufacturing of COVID-19 vaccines and therapeutics have become the darlings of the stock market. Shares of most of these companies have increased exponentially in 2020, with much of the gains driven by speculation.
Abiomed (NASDAQ: ABMD) is the company behind Impella products, the only non-surgical heart pumps to be approved by the U.S. Food and Drug Administration (FDA). The company has differentiated itself from the pack by securing an emergency use authorization (EUA) from the FDA for one of its offerings, the Impella RP, to treat patients suffering from COVID-19-related heart failure or pulmonary embolism (blood clots in the lungs).This approval could partially help to offset the financial impact of the decline in elective procedures during the shelter-at-home restrictions.
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Source Fool.com
