Analysts expect that ABIOMED, Inc. (NASDAQ:ABMD) will report earnings of $0.73 per share for the current fiscal quarter, according to Zacks. Six analysts have made estimates for ABIOMED’s earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $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 firm is scheduled to report its next earnings results on Thursday, October 25th.
On average, analysts expect that ABIOMED will report full year earnings of $4.57 per share for the current year, with EPS estimates ranging from $4.43 to $4.70. For the next fiscal year, analysts expect that the firm will post earnings of $4.73 per share, with EPS estimates ranging from $4.50 to $5.36. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover ABIOMED.
ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, July 26th. The medical equipment provider reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $1.15. The company had revenue of $180.01 million for the quarter, compared to analysts’ expectations of $173.87 million. ABIOMED had a return on equity of 18.91% and a net margin of 25.71%. ABIOMED’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share.
Several research firms recently issued reports on ABMD. BidaskClub cut ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Zacks Investment Research cut ABIOMED from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Piper Jaffray Companies raised their target price on ABIOMED from $360.00 to $480.00 and gave the stock an “overweight” rating in a research note on Friday, June 22nd. ValuEngine lowered shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 18th. Finally, Jefferies Financial Group raised their price objective on shares of ABIOMED to $460.00 and gave the stock a “buy” rating in a report on Tuesday, May 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. ABIOMED currently has an average rating of “Buy” and a consensus target price of $374.88.
In other ABIOMED news, COO David M. Weber sold 19,282 shares of the firm’s stock in a transaction dated Monday, July 30th. The shares were 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 in the company, valued at $59,624,829.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew J. Greenfield sold 4,440 shares of ABIOMED stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $395.00, for a total transaction of $1,753,800.00. The disclosure for this sale can be found here. Insiders sold 128,722 shares of company stock valued at $54,800,489 over the last 90 days. 3.50% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in shares of ABIOMED during the second quarter valued at approximately $151,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of ABIOMED during the second quarter valued at approximately $164,000. Rampart Investment Management Company LLC purchased a new position in shares of ABIOMED during the second quarter valued at approximately $175,000. NewSquare Capital LLC purchased a new position in shares of ABIOMED during the second quarter valued at approximately $186,000. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of ABIOMED during the second quarter valued at approximately $196,000. Hedge funds and other institutional investors own 86.21% of the company’s stock.
Shares of NASDAQ ABMD traded down $1.04 during trading hours on Friday, hitting $375.52. The company’s stock had a trading volume of 20,743 shares, compared to its average volume of 621,708. The stock has a market capitalization of $17.76 billion, a PE ratio of 154.78, a PEG ratio of 4.23 and a beta of -0.08. ABIOMED has a 12 month low of $155.57 and a 12 month high of $450.93.
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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