Abiomed: Small Premium For Access To ~11% Normalized ROIC [Seeking Alpha]
ABIOMED, Inc. (ABMD)
Last abiomed, inc. earnings: 4/30 07:00 am
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US:NASDAQ Investor Relations:
investors.abiomed.com/investor-relations
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Source: Seeking Alpha
JFsPic/iStock via Getty ImagesInvestment summaryThe long-term buy thesis for Abiomed, Inc. (NASDAQ:ABMDnon-GAAP reconciliations and continued to generate a substantive return on investment, generating an above-average $46 million in NOPAT from last year's invested capital. Valuations are supportive, and we are paying ~300bps premium to obtain access to these quality factors that investors are paying a premium for in FY22. We reiterate that ABMD is a buy [since October 2020] and valuations remain unchanged at $388 per share.Exhibit 1. ABMD 6-month price actionData: Refinitiv EikonQ1 FY23 earnings in-line with long-term cadenceFor the first quarter of its FY23, ABMD printed YoY top-line growth of 10% to $277 million. In constant currency ("cc."), this was a 12% gain over the year. Global product revenue also spiked 10% (12% cc.) with an 11% gain in ex-US turnover. Europe and Japan in particular led sales growth contributing $33 million and $13 million to the top respectively. Whereas US
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