Wall Street analysts forecast that ABIOMED, Inc. (NASDAQ:ABMD) will post $163.84 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for ABIOMED’s earnings. The lowest sales estimate is $163.50 million and the highest is $164.10 million. ABIOMED reported sales of $124.68 million during the same quarter last year, which indicates a positive year over year growth rate of 31.4%. The company is expected to announce its next quarterly earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that ABIOMED will report full-year sales of $163.84 million for the current fiscal year, with estimates ranging from $582.80 million to $586.05 million. For the next year, analysts forecast that the firm will post sales of $745.13 million per share, with estimates ranging from $733.60 million to $757.16 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow ABIOMED.
ABIOMED (NASDAQ:ABMD) last announced its earnings results on Thursday, February 1st. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.50 by $0.20. The company had revenue of $154.00 million for the quarter, compared to analysts’ expectations of $154.00 million. ABIOMED had a return on equity of 15.54% and a net margin of 16.58%. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share.
ABMD has been the topic of several recent research reports. Jefferies Group raised their price target on ABIOMED to $250.00 and gave the company a “buy” rating in a report on Friday, January 12th. BidaskClub upgraded ABIOMED from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Piper Jaffray reiterated a “buy” rating on shares of ABIOMED in a report on Thursday, January 4th. Zacks Investment Research upgraded ABIOMED from a “hold” rating to a “buy” rating and set a $213.00 price target on the stock in a report on Friday, December 29th. Finally, Leerink Swann raised their price target on ABIOMED from $200.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. ABIOMED currently has an average rating of “Buy” and an average price target of $288.86.
ABIOMED stock traded down $11.88 during mid-day trading on Wednesday, hitting $279.11. The stock had a trading volume of 609,327 shares, compared to its average volume of 425,559. The stock has a market cap of $12,884.40, a price-to-earnings ratio of 238.56, a P/E/G ratio of 4.03 and a beta of 0.16. ABIOMED has a 12 month low of $117.36 and a 12 month high of $304.28.
In other ABIOMED news, VP Andrew J. Greenfield sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $270.36, for a total transaction of $5,407,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.00% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ABMD. Janus Henderson Group PLC boosted its holdings in ABIOMED by 102.0% during the third quarter. Janus Henderson Group PLC now owns 1,076,829 shares of the medical equipment provider’s stock worth $181,553,000 after buying an additional 543,793 shares during the last quarter. American Century Companies Inc. boosted its holdings in ABIOMED by 99.0% during the fourth quarter. American Century Companies Inc. now owns 963,517 shares of the medical equipment provider’s stock worth $180,573,000 after buying an additional 479,375 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in ABIOMED by 2,219.4% during the third quarter. Wells Fargo & Company MN now owns 364,427 shares of the medical equipment provider’s stock worth $61,443,000 after buying an additional 348,715 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in ABIOMED by 315.6% during the fourth quarter. Perceptive Advisors LLC now owns 215,000 shares of the medical equipment provider’s stock worth $40,293,000 after buying an additional 163,271 shares during the last quarter. Finally, Carillon Tower Advisers Inc. bought a new position in ABIOMED during the fourth quarter worth about $29,531,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.
ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.
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