Why Shares of Abiomed Rose 18.4% in July

·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.