Wall Street analysts predict that ABIOMED, Inc. (NASDAQ:ABMD) will announce earnings of $0.87 per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for ABIOMED’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $1.25. ABIOMED reported earnings of $1.03 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 15.5%. The business is expected to issue its next earnings report on Thursday, October 29th.
According to Zacks, analysts expect that ABIOMED will report full year earnings of $4.34 per share for the current fiscal year, with EPS estimates ranging from $3.85 to $5.34. For the next fiscal year, analysts anticipate that the business will report earnings of $5.03 per share, with EPS estimates ranging from $4.22 to $6.08. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover ABIOMED.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.38. The firm had revenue of $164.90 million for the quarter, compared to the consensus estimate of $144.12 million. ABIOMED had a net margin of 19.88% and a return on equity of 16.17%. The business’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 EPS.
A number of equities research analysts have recently commented on the company. BidaskClub cut 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. Morgan Stanley lifted their target price on ABIOMED from $152.00 to $217.00 and gave the stock an “underweight” rating in a research note on Friday, August 7th. Finally, SVB Leerink lifted their target price on ABIOMED from $280.00 to $335.00 and gave the stock a “market perform” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. ABIOMED has a consensus rating of “Hold” and a consensus target price of $221.40.
In related news, CEO Michael R. Minogue sold 100,000 shares of the business’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 Martin P. Sutter sold 750 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $311.99, for a total value of $233,992.50. Following the completion of the sale, the director now owns 187,760 shares in the company, valued at $58,579,242.40. The disclosure for this sale can be found here. Insiders sold a total of 110,250 shares of company stock worth $33,815,313 over the last 90 days. 3.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in ABMD. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of ABIOMED by 33.9% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 2,348 shares of the medical equipment provider’s stock worth $341,000 after purchasing an additional 594 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of ABIOMED by 12.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 7,825 shares of the medical equipment provider’s stock worth $1,136,000 after purchasing an additional 854 shares during the period. APG Asset Management N.V. boosted its holdings in shares of 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 period. Wells Fargo & Company MN boosted its holdings in shares of 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 period. Finally, BNP Paribas Arbitrage SA boosted its holdings in ABIOMED by 16.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 26,473 shares of the medical equipment provider’s stock valued at $3,843,000 after acquiring an additional 3,734 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.
Shares of NASDAQ ABMD traded up $1.54 during mid-day trading on Monday, reaching $261.99. 432,306 shares of the company’s stock were exchanged, compared to its average volume of 338,754. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 75.50, a price-to-earnings-growth ratio of 3.30 and a beta of 1.17. ABIOMED has a 52 week low of $119.01 and a 52 week high of $319.19. The firm has a 50-day moving average price of $286.58 and a two-hundred day moving average price of $235.54.
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.
Read More: Compound Interest
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.