Why Shares of Abiomed Rose 18.4% in July

Jim Halley, The Motley Fool

August 8, 2022 at 3:21 p.m.·2 min read

Abiomed (NASDAQ: ABMD), a maker of medical devices that provide circulatory support, including the Impella heart pumps used in cardiac surgery, saw its shares climb 18.4% in July, according to data from S&P Global Intelligence. Abiomed's price-to-earnings ratio of 97.05 may be considered high by some, but that's misleading because of its continued growth. Abiomed's quarterly revenue has climbed 108.7% over the past five years, and its recent quarterly reports show that trend isn't slowing.

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