CMS proposed rate changes to have little impact on Abiomed, says Piper Jaffray

The Centers for Medicare and Medicaid Services yesterday afternoon issued proposed inpatient prospective payment system rates for Impella cases, Piper Jaffray analyst Matt O’Brien tells investors in a research note. CMS proposed to cut one of Abiomed’s key codes, while raising the others, says the analyst. He finds it important to remember that these are proposed changes and that Medicare tends to leave the rates essentially unchanged in the final decision. O’Brien recommends not over-reading the proposed rates and continues to expect growth at Abiomed to be among the fastest in all of large cap med tech. He keeps an Overweight rating on the shares with a $480 price target.

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