Abiomed, Inc. has recently announced favorable results from the Restore EF study, which was published online this month in JSCAI. The result demonstrates that Impella-supported high-risk percutaneous coronary intervention (PCI) leads to significant improvements in left ventricular ejection fraction (LVEF), angina symptoms and heart failure symptoms at follow-up.

It is worth mentioning that the study builds on a large clinical data set collected for high-risk PCI and further validates the LVEF and quality of life benefits associated with Impella-supported procedures.

The latest positive study outcome is a stepping stone for Abiomed’s coronary business across the world.

Significance of the Study

Restore EF is a prospective, multi-center study, which evaluates the best practices in contemporary PCI practice, including complete revascularization. The patients enrolled for the study demonstrated favorable outcomes on several parameters.

Per an expert associated with the Restore EF study, the results are a significant addition to the growing body of evidence illustrating that Impella-supported high-risk PCI can lead to complete revascularization and considerable LVEF improvement. The expert also confirms that the improvement in angina and heart failure symptoms in those with near-normal LVEF considerably benefits this patient pool.

It should be noted that the benefit derived from the usage of Impella in this patient population is aligned with the FDA’s 2018 decision to expand Impella’s indication to patients undergoing high-risk PCI with or without depressed ejection fractions.

Industry Prospects

Per a report by Research and Markets, the global heart pump device market is anticipated to reach $5.5 billion by 2026 from $2.1 billion in 2021 at a CAGR of 21.6%. Factors like rising prevalence of cardiovascular diseases and long waiting periods for heart transplants are likely to drive the market.

Given the market potential, the positive study outcome is likely to provide a significant boost to Abiomed’s business globally.

Another Notable Development

This month, Abiomed reported its first-quarter fiscal 2023 results, wherein it recorded year-over-year uptick in the top and bottom lines. It also witnessed continued strength in its global Impella revenues. Abiomed’s geographical performance was also robust. Abiomed confirmed receiving the FDA’s approval for the RECOVER IV randomized controlled trial at the time of the earnings release.

Price Performance

Shares of the company have lost 14.9% in the past year compared with the industry’s 22.3% fall and the S&P 500's 3.2% decline.

Image Source: Zacks Investment Research

Zacks Rank & Key Picks

Currently, Abiomed carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN Quick QuoteAMN - Free Report) , Patterson Companies, Inc. (PDCO Quick QuotePDCO - Free Report) and McKesson Corporation (MCK Quick QuoteMCK - Free Report) .

AMN Healthcare, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 3.2%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.7%.

You can see the complete list of today’s Zacks #1 Rank stocks here.

AMN Healthcare has lost 0.3% compared with the industry’s 27.6% fall in the past year.

Patterson Companies, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 7.9%. PDCO’s earnings surpassed estimates in all the trailing four quarters, the average beat being 16.5%.

Patterson Companies has gained 1.3% against the industry’s 4.1% fall over the past year.

McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 9.9%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 13%.

McKesson has gained 84.3% against the industry’s 4.1% fall over the past year.