ABIOMED, Inc. (NASDAQ:ABMD) – Stock analysts at Jefferies Financial Group decreased their Q3 2019 earnings estimates for shares of ABIOMED in a research report issued to clients and investors on Thursday, November 1st. Jefferies Financial Group analyst R. Denhoy now forecasts that the medical equipment provider will post earnings of $0.94 per share for the quarter, down from their prior estimate of $0.97. Jefferies Financial Group also issued estimates for ABIOMED’s FY2021 earnings at $5.95 EPS and FY2022 earnings at $7.62 EPS.
Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. BTIG Research upgraded shares of ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 price target for the company in a research note on Friday. Morgan Stanley lifted their price target on shares of ABIOMED from $370.00 to $396.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 11th. BidaskClub upgraded shares of ABIOMED from a “hold” rating to a “buy” rating in a research note on Wednesday, September 5th. Finally, ValuEngine lowered shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 18th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $391.67.
Shares of NASDAQ:ABMD opened at $392.91 on Monday. The firm has a market capitalization of $17.24 billion, a P/E ratio of 160.37, a P/E/G ratio of 4.07 and a beta of 0.35. ABIOMED has a 12-month low of $186.72 and a 12-month high of $459.75.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.36. The business had revenue of $181.78 million during the quarter, compared to analyst estimates of $175.41 million. ABIOMED had a net margin of 27.60% and a return on equity of 20.09%. The business’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share.
A number of institutional investors have recently added to or reduced their stakes in ABMD. MERIAN GLOBAL INVESTORS UK Ltd boosted its holdings in ABIOMED by 1,030.0% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 638,856 shares of the medical equipment provider’s stock worth $287,325,000 after purchasing an additional 582,318 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of ABIOMED by 35.0% during the second quarter. Renaissance Technologies LLC now owns 1,551,423 shares of the medical equipment provider’s stock valued at $634,610,000 after acquiring an additional 401,800 shares during the period. FMR LLC boosted its holdings in shares of ABIOMED by 34.2% during the second quarter. FMR LLC now owns 691,818 shares of the medical equipment provider’s stock valued at $282,988,000 after acquiring an additional 176,394 shares during the period. Carillon Tower Advisers Inc. boosted its holdings in shares of ABIOMED by 77.0% during the second quarter. Carillon Tower Advisers Inc. now owns 400,348 shares of the medical equipment provider’s stock valued at $163,762,000 after acquiring an additional 174,198 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of ABIOMED during the second quarter valued at $58,965,000. 87.14% of the stock is owned by hedge funds and other institutional investors.
In other ABIOMED news, VP Andrew J. Greenfield sold 4,440 shares of ABIOMED stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $395.00, for a total value of $1,753,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael G. Howley sold 10,000 shares of ABIOMED stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $432.50, for a total transaction of $4,325,000.00. Following the completion of the transaction, the vice president now directly owns 48,954 shares of the company’s stock, valued at approximately $21,172,605. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.
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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