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Fly News Breaks for April 17, 2017
ABMD
Apr 17, 2017 | 10:35 EDT
After CMS put out a proposed rule that includes a proposed 35% reduction to the code used for "Impella implant with care after catheterization lab," Piper Jaffray analyst Matt O'Brien said that, if finalized, this would be a negative for Abiomed. However, he notes the final rate is still to come, likely in August, and, even if implemented as is, he does not expect a material impact to Impella utilization given that in life and death situations he expects doctors to use the best treatment possible. If the stock were to pull back on reimbursement worries, O'Brien recommends using weakness as a buying opportunity and keeps an Overweight rating on Abiomed shares.
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