Why Abiomed's Stock Price Jumped Last Week

Medical device maker Abiomed (NASDAQ: ABMD) saw a high last week of $197.75 per share. The stock closed at $191.25 on Thursday, an improvement of 13% over Wednesday's closing price. Even after some slippage on Friday and Monday, the stock is still trading roughly $17 a share higher than it was at at this time last week.

Thursday was on an otherwise moribund day for the markets, with the S&P 500 dropping 27 points and the Dow Jones Industrial Average falling by 288. However, Abiomed, which specializes in a line of heart pumps and has its headquarters in Danville, Mass., had a one-two punch of good news for investors.

Image Source: Abiomed.

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Source Fool.com