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ABMD is regaining attention and rebounding strong. |
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Released on Wednesday, June 6, 2012, 12:15 AM ET
Pittsburgh, PA (SpeculatingStocks) - Abiomed (NASDAQ:ABMD) operates in the medical device industry especially in circulatory support and continuum of care in heart recovery to acute heart failure patients. ABMD's devices enable the heart to rest, heal and recover by enhancing blood flow and/or performing the pumping function of the heart.
Medical device stocks have been doing a little more than murmuring lately, and have been creating noise in the markets, but not so much so that they have run huge yet. ABMD is trading at a market cap of around $792 million, which we believe some investors may look at as overvalued. However, really ABMD operates in a huge market (heart health) and the company has turned profitable last quarter with a $2.92 million profit on $32.1 million in revenue.
ABMD's balance sheet is strong with total assets exceeding total liabilities by over 6 to 1 and $69 million on the balance sheet with no long-term debt.
ABMD is at an attractive point in its chart for investors looking to get in. Shares have just reversed a few days ago on Friday, June 1st, hitting a low of $18.91 on that day and ABMD shares now trading at $20.41 with a 52-week high of $26.17.
It looks like ABMD has the makings to become quite a big play in the long-term with cash flow leading to an already innovative company.
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