Why Abiomed Stock Soared Today
Shares of Abiomed (NASDAQ: ABMD) were soaring 13.8% higher as of 3:26 p.m. EDT on Thursday. The big jump came after the medical device maker announced its fiscal 2020 fourth-quarter and full-year results before the market opened.
Abiomed reported Q4 revenue of $206.7 million, down slightly year over year and narrowly missing the consensus Wall Street revenue estimate of $207.2 million. However, the company's Q4 adjusted earnings per share of $1 easily topped the average analysts' adjusted earnings estimate of $0.94 per share.
When a company reports mixed results as Abiomed did, investors usually don't get very excited. However, there were a couple of factors at play for the company that helped make its results look more encouraging than they otherwise would have.
Source Fool.com
