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ABMD

Abiomed

$262.32

1.39 (0.53%)

08:53
04/24/19
04/24
08:53
04/24/19
08:53

Abiomed could be pressured on CMS proposed inpatient rates, says Jefferies

The Centers for Medicare and Medicaid Services yesterday issued preliminary hospital inpatient rates that propose a 27% cut to the main Impella code, Jefferies analyst Raj Denhoy tells investors in a research note. Importantly, the proposal does not signal CMS targeting Impella specifically but is formulaic based on cost data CMS is seeing from hospitals, adds the analyst. Also, if recent history is a gauge, final rates will likely settle higher, says Denhoy. Further, he believes notes that rates have little real impact on utilization and that he believes this is already priced into Abiomed shares anyway. The analyst thinks the headline could pressure the stock he stays "firmly" at Buy on Abiomed with a $460 price target.

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ABMD Abiomed
$262.32

1.39 (0.53%)

02/05/19
WBLR
02/05/19
NO CHANGE
WBLR
Outperform
FDA letter adds 'question mark' to Abiomed story, says William Blair
The "Dear Doctor" letter, notifying clinicians of interim results from its post-approval study on Impella RP, "adds a question mark" to the Abiomed story, William Blair analyst Margaret Kaczor tells investors in a research note. However, from a fundamental perspective, Impella RP has been a relatively small part of Abiomed's revenues, contributing approximately $6.6M in its fiscal Q3. Thus, the analyst believes Abiomed can continue to grow over 20% over the next several years without significant contribution from Impella RP. Kaczor keeps an Outperform rating on Abiomed.
03/25/19
PIPR
03/25/19
NO CHANGE
PIPR
Piper sees six 'quality' Med Tech names whose stocks haven't rallied
Medical Technology stocks have rebounded quickly in Q1 following a challenging Q4 of 2018 as the combination of solid year-end results and compelling outlooks for next year have led investors back into the names, Piper Jaffray analyst Matt O'Brien tells investors in a research note. The analyst, however, has identified six "quality" names that have not participated in the Q1 share appreciation, "despite consistently delivering beat-and-raises." The basket of stocks include Abiomed (ABMD), Merit Medical (MMSI), AtriCure (ATRC), Neuronetics (STIM), SeaSpine (SPNE) and Nuvectra (NVTR).
04/15/19
JEFF
04/15/19
NO CHANGE
Target $460
JEFF
Buy
Abiomed selloff overdone, shares a 'bargain,' says Jefferies
Jefferies analyst Raj Denhoy views the recent pullback in shares of Abiomed as overdone and says nothing has changed in his long-term "bullish" view. There are short-term dynamics that could prove challenging with concerns around the company's Q4 results, competition and reimbursement, but the recent pullback in shares "more than reflects these," Denhoy tells investors in a research note. The analyst expects Abiomed to issue "conservative" guidance, but adds the 27% sales growth he's modeling is "still best in class." Denhoy calls the stock a "bargain" and keeps a Buy rating on Abiomed with a $460 price target. The company "has weathered worse sentiment shifts in the past and we expect it will this time too," says the analyst.
04/24/19
PIPR
04/24/19
NO CHANGE
Target $480
PIPR
Overweight
CMS proposed rate changes to have little impact on Abiomed, says Piper Jaffray
The Centers for Medicare and Medicaid Services yesterday afternoon issued proposed inpatient prospective payment system rates for Impella cases, Piper Jaffray analyst Matt O'Brien tells investors in a research note. CMS proposed to cut one of Abiomed's key codes, while raising the others, says the analyst. He finds it important to remember that these are proposed changes and that Medicare tends to leave the rates essentially unchanged in the final decision. O'Brien recommends not over-reading the proposed rates and continues to expect growth at Abiomed to be among the fastest in all of large cap med tech. He keeps an Overweight rating on the shares with a $480 price target.

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