Wall Street analysts predict that ABIOMED, Inc. (NASDAQ:ABMD) will post sales of $201.39 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for ABIOMED’s earnings, with the lowest sales estimate coming in at $190.93 million and the highest estimate coming in at $209.00 million. ABIOMED reported sales of $204.97 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.7%. The firm is scheduled to report its next earnings results on Thursday, October 29th.
According to Zacks, analysts expect that ABIOMED will report full-year sales of $832.94 million for the current financial year, with estimates ranging from $810.70 million to $858.12 million. For the next year, analysts expect that the firm will post sales of $992.69 million, with estimates ranging from $944.90 million to $1.03 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover ABIOMED.
ABIOMED (NASDAQ:ABMD) last announced its earnings results on Thursday, August 6th. The medical equipment provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.38. ABIOMED had a return on equity of 16.17% and a net margin of 19.88%. The firm had revenue of $164.90 million for the quarter, compared to the consensus estimate of $144.12 million. During the same period in the previous year, the business earned $1.00 EPS. The firm’s revenue for the quarter was down 20.6% on a year-over-year basis.
Several analysts have weighed in on the company. SVB Leerink boosted their price target on ABIOMED from $280.00 to $335.00 and gave the company a “market perform” rating in a research note on Friday, August 7th. BidaskClub downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, August 25th. OTR Global upgraded ABIOMED to a “positive” rating in a research note on Monday, July 13th. Finally, Morgan Stanley boosted their price target on ABIOMED from $152.00 to $217.00 and gave the company an “underweight” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $221.40.
In related news, CEO Michael R. Minogue sold 100,000 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $309.12, for a total value of $30,912,000.00. Also, Director Dorothy E. Puhy sold 7,500 shares of the company’s stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $275.00, for a total value of $2,062,500.00. Following the completion of the transaction, the director now directly owns 7,652 shares of the company’s stock, valued at approximately $2,104,300. The disclosure for this sale can be found here. In the last three months, insiders sold 110,250 shares of company stock valued at $33,815,313. Insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp acquired a new position in ABIOMED in the 2nd quarter worth about $43,000. Bainco International Investors acquired a new position in ABIOMED in the 1st quarter worth about $39,000. CSat Investment Advisory L.P. raised its holdings in ABIOMED by 17.1% in the 1st quarter. CSat Investment Advisory L.P. now owns 494 shares of the medical equipment provider’s stock worth $72,000 after purchasing an additional 72 shares during the period. Captrust Financial Advisors acquired a new position in ABIOMED in the 2nd quarter worth about $164,000. Finally, Cerebellum GP LLC acquired a new position in shares of ABIOMED during the second quarter valued at approximately $127,000. 94.94% of the stock is owned by institutional investors.
ABIOMED stock traded up $1.54 during trading hours on Wednesday, hitting $261.99. 432,306 shares of the stock traded hands, compared to its average volume of 338,754. The firm’s 50 day moving average price is $286.58 and its 200-day moving average price is $235.54. The stock has a market capitalization of $11.80 billion, a price-to-earnings ratio of 75.50, a P/E/G ratio of 3.30 and a beta of 1.17. ABIOMED has a 1 year low of $119.01 and a 1 year high of $319.19.
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.
Featured Article: What can cause a stock to outperform?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ABIOMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABIOMED and related companies with MarketBeat.com's FREE daily email newsletter.