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Fly News Breaks for August 3, 2018
ABMD
Aug 3, 2018 | 13:37 EDT
Piper Jaffray analyst Matt O'Brien said the CMS final rule for Impella reimbursement rates is better than expected and "a nice positive" for Abiomed that should ease some investor fears on pricing pressure for the device. He sees the fact that CMS removed a previously proposed cut of 24% to one of the key DRGs - 215 - as the most important piece of information and views the final IPPS as "a nice tailwind" for Abiomed, O'Brien tells investors. He keeps an Overweight rating and $480 price target on the stock.
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