Equities research analysts expect ABIOMED, Inc. (NASDAQ:ABMD) to announce earnings of $0.73 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for ABIOMED’s earnings, with estimates ranging from $0.68 to $0.78. ABIOMED posted earnings per share of $0.44 in the same quarter last year, which suggests a positive year over year growth rate of 65.9%. The company is scheduled to announce its next quarterly earnings report on Thursday, October 25th.
On average, analysts expect that ABIOMED will report full year earnings of $4.63 per share for the current year, with EPS estimates ranging from $4.43 to $4.88. For the next year, analysts anticipate that the company will post earnings of $4.73 per share, with EPS estimates ranging from $4.50 to $5.36. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for ABIOMED.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, July 26th. The medical equipment provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $1.15. ABIOMED had a net margin of 25.71% and a return on equity of 18.91%. The business had revenue of $180.01 million for the quarter, compared to analysts’ expectations of $173.87 million. During the same period last year, the business earned $0.82 earnings per share. The business’s quarterly revenue was up 35.9% on a year-over-year basis.
A number of research analysts have commented on ABMD shares. ValuEngine cut shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. BidaskClub cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “buy” rating and set a $457.00 price target on the stock in a research report on Tuesday, July 10th. Finally, Piper Jaffray Companies increased their price target on shares of ABIOMED from $360.00 to $480.00 and gave the company an “overweight” rating in a research report on Friday, June 22nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. ABIOMED has a consensus rating of “Buy” and an average price target of $374.88.
In related news, VP Andrew J. Greenfield sold 4,440 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $395.00, for a total value of $1,753,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David M. Weber sold 19,282 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $356.77, for a total value of $6,879,239.14. Following the completion of the sale, the chief operating officer now directly owns 167,124 shares of the company’s stock, valued at approximately $59,624,829.48. The disclosure for this sale can be found here. Insiders sold 33,722 shares of company stock worth $12,958,039 in the last 90 days. Company insiders own 3.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its stake in ABIOMED by 65.0% in the second quarter. Wells Fargo & Company MN now owns 134,542 shares of the medical equipment provider’s stock worth $55,034,000 after acquiring an additional 52,986 shares during the period. Private Advisor Group LLC purchased a new stake in ABIOMED in the second quarter worth $1,515,000. Columbus Circle Investors lifted its stake in ABIOMED by 179.7% in the second quarter. Columbus Circle Investors now owns 64,442 shares of the medical equipment provider’s stock worth $26,360,000 after acquiring an additional 41,403 shares during the period. Bank of Montreal Can purchased a new stake in ABIOMED in the second quarter worth $11,530,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in ABIOMED in the second quarter worth $740,000. 86.21% of the stock is owned by institutional investors.
NASDAQ ABMD traded down $16.70 on Monday, reaching $399.01. 786,700 shares of the company’s stock traded hands, compared to its average volume of 632,012. ABIOMED has a 12 month low of $164.80 and a 12 month high of $459.75. The stock has a market capitalization of $20.18 billion, a P/E ratio of 162.77, a PEG ratio of 4.81 and a beta of 0.03.
ABIOMED Company Profile
ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.
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