Shares of heart pump maker Abiomed Inc. tumbled 4.3 percent Thursday after the Danvers company disclosed that its fourth-quarter sales were below expectations and it had received a federal subpoena relating to a civil investigation into its reimbursement practices.
In its earnings release, Abiomed said the subpoena from the Office of the Inspector General in the Boston regional office of the Department of Health and Human Services sought “materials relevant to the company’s reimbursement of expenses and remuneration to health care providers” during the second half of 2012. The company said it would comply with the request.
“We believe our physician reimbursement practices have been and currently are compliant with the industry standard,” said Abiomed spokeswoman Aimee Genzler.
Abiomed’s stock fell $1.03 a share, to $22.66, on the Nasdaq stock exchange.