Equities analysts expect ABIOMED, Inc. (NASDAQ:ABMD) to post sales of $201.39 million for the current quarter, according to Zacks. Five analysts have issued estimates for ABIOMED’s earnings. The lowest sales estimate is $190.93 million and the highest is $209.00 million. ABIOMED posted sales of $204.97 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.7%. The business is expected to announce its next earnings results on Thursday, October 29th.
On average, analysts expect that ABIOMED will report full-year sales of $832.94 million for the current fiscal year, with estimates ranging from $810.70 million to $858.12 million. For the next year, analysts forecast that the firm will report sales of $992.69 million, with estimates ranging from $944.90 million to $1.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover ABIOMED.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.38. ABIOMED had a net margin of 19.88% and a return on equity of 16.17%. The firm had revenue of $164.90 million during the quarter, compared to analysts’ expectations of $144.12 million. During the same period in the prior year, the company earned $1.00 EPS. The firm’s revenue was down 20.6% on a year-over-year basis.
A number of equities analysts have commented on the stock. Morgan Stanley boosted their price objective on shares of ABIOMED from $152.00 to $217.00 and gave the stock an “underweight” rating in a report on Friday, August 7th. BidaskClub lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, August 25th. OTR Global upgraded shares of ABIOMED to a “positive” rating in a report on Monday, July 13th. Finally, SVB Leerink boosted their price objective on shares of ABIOMED from $280.00 to $335.00 and gave the stock a “market perform” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. ABIOMED has an average rating of “Hold” and a consensus price target of $221.40.
In other news, Director Dorothy E. Puhy sold 7,500 shares of the company’s stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $275.00, for a total value of $2,062,500.00. Following the sale, the director now owns 7,652 shares in the company, valued at approximately $2,104,300. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul Thomas sold 2,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $303.41, for a total transaction of $606,820.00. In the last 90 days, insiders sold 110,250 shares of company stock worth $33,815,313. Company insiders own 3.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. raised its stake in ABIOMED by 12.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 7,825 shares of the medical equipment provider’s stock worth $1,136,000 after acquiring an additional 854 shares during the period. APG Asset Management N.V. grew its position in ABIOMED by 71.0% in the 1st quarter. APG Asset Management N.V. now owns 63,360 shares of the medical equipment provider’s stock worth $9,197,000 after purchasing an additional 26,299 shares during the last quarter. Wells Fargo & Company MN grew its position in ABIOMED by 18.9% in the 1st quarter. Wells Fargo & Company MN now owns 66,675 shares of the medical equipment provider’s stock worth $9,678,000 after purchasing an additional 10,581 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in ABIOMED by 16.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 26,473 shares of the medical equipment provider’s stock worth $3,843,000 after purchasing an additional 3,734 shares during the last quarter. Finally, M&T Bank Corp grew its position in ABIOMED by 9.9% in the 1st quarter. M&T Bank Corp now owns 1,757 shares of the medical equipment provider’s stock worth $255,000 after purchasing an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.
ABIOMED stock traded up $1.54 during trading on Wednesday, reaching $261.99. 432,306 shares of the company’s stock were exchanged, compared to its average volume of 338,754. ABIOMED has a 52-week low of $119.01 and a 52-week high of $319.19. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 75.50, a PEG ratio of 3.30 and a beta of 1.17. The company’s 50-day moving average is $286.58 and its two-hundred day moving average is $235.54.
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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