Equities analysts expect ABIOMED, Inc. (NASDAQ:ABMD) to post $210.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for ABIOMED’s earnings, with the highest sales estimate coming in at $210.80 million and the lowest estimate coming in at $210.30 million. ABIOMED posted sales of $180.01 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17%. The business is expected to report its next quarterly earnings results on Thursday, July 25th.
According to Zacks, analysts expect that ABIOMED will report full-year sales of $925.30 million for the current year, with estimates ranging from $919.80 million to $943.41 million. For the next fiscal year, analysts forecast that the company will report sales of $1.13 billion, with estimates ranging from $1.10 billion to $1.16 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for ABIOMED.
ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.53. The business had revenue of $207.08 million for the quarter, compared to the consensus estimate of $218.88 million. ABIOMED had a net margin of 33.66% and a return on equity of 20.32%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share.
A number of brokerages recently weighed in on ABMD. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “buy” rating and set a $311.00 target price on the stock in a report on Tuesday, April 2nd. BidaskClub downgraded shares of ABIOMED from a “sell” rating to a “strong sell” rating in a report on Saturday, April 13th. Finally, ValuEngine downgraded shares of ABIOMED from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $398.40.
In other ABIOMED news, Director Martin P. Sutter sold 4,664 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $259.97, for a total value of $1,212,500.08. Following the transaction, the director now directly owns 192,550 shares in the company, valued at $50,057,223.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.50% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. QS Investors LLC grew its stake in shares of ABIOMED by 447.0% in the fourth quarter. QS Investors LLC now owns 7,954 shares of the medical equipment provider’s stock valued at $2,586,000 after acquiring an additional 6,500 shares in the last quarter. NEXT Financial Group Inc grew its stake in shares of ABIOMED by 98.0% in the fourth quarter. NEXT Financial Group Inc now owns 505 shares of the medical equipment provider’s stock valued at $164,000 after acquiring an additional 250 shares in the last quarter. American International Group Inc. grew its stake in shares of ABIOMED by 8.0% in the fourth quarter. American International Group Inc. now owns 17,054 shares of the medical equipment provider’s stock valued at $5,543,000 after acquiring an additional 1,256 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of ABIOMED by 174.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 43,895 shares of the medical equipment provider’s stock valued at $14,767,000 after acquiring an additional 27,910 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB grew its stake in shares of ABIOMED by 17.3% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 65,310 shares of the medical equipment provider’s stock valued at $21,228,000 after acquiring an additional 9,609 shares in the last quarter. Hedge funds and other institutional investors own 87.13% of the company’s stock.
ABMD traded down $6.55 during trading on Friday, reaching $255.48. 355,551 shares of the stock were exchanged, compared to its average volume of 672,929. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 70.97, a PEG ratio of 2.12 and a beta of 0.40. ABIOMED has a twelve month low of $228.00 and a twelve month high of $459.75.
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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