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ABMD Abiomed

Abiomed is a publicly-traded medical devices company that develops and manufactures the circulatory support device Impella, the world’s smallest heart pump. The company is headquartered in Danvers, Massachusetts and has three additional offices, two in Germany in the cities of Berlin and Aachen, and another in Tokyo, Japan. Michael R. Minogue is Chairman, CEO & President of the company, with Dr. Thorsten Siess as Chief Technology Officer, Dr. Chuck Simonton as Chief Medical Officer and Dr. David M. Weber as Chief Operating Officer. According to Bloomberg, the company "engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients". As of 2019, the company had secured five FDA approvals and 715 patents with 622 pending. For fiscal year 2019, Abiomed reported $769.4 million in revenue and reported diluted earnings per share was $5.61 for the year. Abiomed was founded in Danvers, Massachusetts by David M. Lederman in 1981 as Applied Biomedical Corporation. That year, the company commenced the development of an artificial heart. Funded by federal research grants, Lederman partnered with The Texas Heart Institute to develop the AbioCor, a grapefruit-sized electromagnetic device with an internal battery that completely replaces the heart without wires or tubes passing through the skin. In July 2001, AbioCor became the first artificial heart successfully implanted in a patient, where it pumped more than 20 million times. Fourteen of the AbioCor devices were implanted, during clinical trials from 2001 to 2004, with the longest-living recipient surviving 512 days. The AbioCor won FDA approval in 2006 for patients who are near death and do not qualify for a heart transplant.

Company profile

Ticker
ABMD
Exchange
CEO
Michael Minogue
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
42743260

ABMD stock data

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Calendar

21 May 21
13 Jun 21
31 Mar 22
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
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Annual (USD)
Mar 21 Mar 20 Mar 19 Mar 18
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Financial data from Abiomed earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
29 May 21 Minogue Michael R Common Stock $.01 par value Payment of exercise Dispose F No No 284.58 1,563 444.8K 211,635
29 May 21 Trapp Todd A Common Stock, $0.01 par value Payment of exercise Dispose F No No 284.58 518 147.41K 9,637
29 May 21 Weber David M Common Stock, $.01 par value Payment of exercise Dispose F No No 284.58 449 127.78K 125,888
29 May 21 Greenfield Andrew J Common Stock, $.01 par value Payment of exercise Dispose F No No 284.58 366 104.16K 37,768
29 May 21 Marc A Began Common Stock, $0.01 par value Payment of exercise Dispose F No No 284.58 480 136.6K 5,991

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

8.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1 218 -99.5%
Opened positions 0 69 EXIT
Closed positions 217 13 +1569.2%
Increased positions 1 78 -98.7%
Reduced positions 0 42 EXIT
13F shares
Current Prev Q Change
Total value 513.1M 3.3B -84.5%
Total shares 3.94M 31.85M -87.6%
Total puts 0 58.6K EXIT
Total calls 0 186.7K EXIT
Total put/call ratio 0.3
Largest owners
Shares Value Change
TROW T. Rowe Price 3.94M $513.1M +58.8%
Largest transactions
Shares Bought/sold Change
FMR 0 -5.14M EXIT
Vanguard 0 -2.79M EXIT
BLK Blackrock 0 -2.4M EXIT
JPM JPMorgan Chase & Co. 0 -1.87M EXIT
Gilder Gagnon Howe & Co 0 -1.86M EXIT
WFC Wells Fargo & Co. 0 -1.52M EXIT
TROW T. Rowe Price 3.94M +1.46M +58.8%
Fred Alger Management 0 -1.04M EXIT
Artisan Partners Limited Partnership 0 -779.05K EXIT
MCQEF Macquarie 0 -684.26K EXIT

Financial report summary

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Risks
  • A prolonged downturn in global economic conditions may materially adversely affect our business.
  • Fluctuations in foreign currency exchange rates could result in declines in our reported sales and results of operations.
  • If we fail to compete successfully against our existing or potential competitors, our revenues or operating results may be harmed.
  • The commercial success of our products will require acceptance by cardiac surgeons and interventional cardiologists, a limited number of whom have significant influence over medical device selection and purchasing decisions.
  • Expansion into hospital cardiac centers that have not historically used our products may incur long sales and training cycles that may cause our revenues and operating results to vary significantly from quarter to quarter.
  • The training required for clinicians to use our products could reduce the market acceptance of our products and reduce our revenue.
  • If we do not effectively manage our growth, we may be unable to successfully develop, market and sell our products.
  • Unsuccessful clinical trials or procedures relating to products under development could have a material adverse effect on our prospects.
  • Our future success depends in part on the development of new circulatory assist products, and our development efforts may not be successful.
  • We depend on third-party reimbursement to our customers for market acceptance of our products. If third-party payers fail to provide coverage and appropriate levels of reimbursement for the medical procedures in which our products are used, our sales and profitability would be adversely affected.
  • We rely on distributors to sell our products in some international markets and poor performance by a distributor could reduce our sales and harm our business.
  • We may not be successful in expanding our direct sales activities into international markets.
  • Our operating results may fluctuate unpredictably.
  • Quality issues may result in inventory write-downs and other costs.
  • If we acquire other companies or businesses, we will be subject to risks that could hurt our business.
  • Consolidation in the healthcare industry could lead to demands for price concessions, which could have an adverse effect on our business, results of operations or financial condition.
  • If we fail to obtain and maintain necessary governmental approvals for our products and indications, we may be unable to market and sell our products in certain jurisdictions.
  • If the FDA or another regulatory or enforcement agency determines that we have promoted our products for one or more off-label uses, we may be subject to various penalties, including civil or criminal penalties.
  • Off-label use of our products may result in injuries that lead to product liability suits, which could be costly to our business.
  • Product liability claims could damage our reputation and adversely affect our financial results.
  • Our products are subject to extensive regulatory requirements, including continuing regulatory review, which could affect the manufacturing and marketing of our products.
  • Shutdowns of the U.S. federal government could materially impair our business and financial condition.
  • Changes in healthcare reimbursement systems in the U.S. and abroad could reduce our revenues and profitability.
  • We must comply with healthcare “fraud and abuse” laws, and we could face penalties for non-compliance and be excluded from government healthcare programs, which would adversely affect our business, financial condition and results of operations.
  • We are subject to the U.S. Foreign Corrupt Practices Act and other anticorruption laws, as well as export control laws, import and customs laws, trade and economic sanctions laws and other laws governing our operations.
  • Any failure to achieve and maintain the high manufacturing standards that our products require may seriously harm our business.
  • The economic effects of “Brexit” may affect relationships with existing and future customers and could have an adverse impact on our business and operating results.
  • We may undergo an “ownership change” for U.S. federal income tax purposes, which would limit our ability to utilize net operating losses from prior tax years.
  • If we are found to have violated laws protecting the confidentiality of patient health information, we could be subject to civil or criminal penalties, which could increase our liabilities and harm our reputation or our business.
  • Disruptions of critical information systems or material breaches in the security of our systems could harm our business, customer relations and financial condition.
  • The market price of our common stock is volatile, which has in the past led to and may in the future lead to securities litigation against us. Such litigation may be costly and result in an adverse outcome.
  • The sale of additional shares of our common stock, the issuance of restricted stock units or the exercise of outstanding options to purchase our common stock, would dilute our stockholders’ ownership interest.
  • Our certificate of incorporation and Delaware law could make it more difficult for a third-party to acquire us and may prevent our stockholders from realizing a premium on our stock.
  • We have not paid and do not expect to pay dividends and any return on our stockholders’ investment will likely be limited primarily to gains realized based on the value of our common stock.
  • Revisions to accounting standards, tax laws and financial reporting requirements could result in changes to our standard practices and could require a significant expenditure of time, attention and resources, especially by senior management.
Content analysis
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