Abiomed Inc. (ABMD) Expected to Earn FY2017 Earnings of $1.11 Per Share
Abiomed Inc. (NASDAQ:ABMD) – Equities researchers at Leerink Swann reduced their FY2017 EPS estimates for Abiomed in a research report issued on Tuesday. Leerink Swann analyst D. Antalffy now forecasts that the firm will earn $1.11 per share for the year, down from their previous forecast of $1.12. Leerink Swann has a “Outperform” rating and a $125.00 price target on the stock.
Abiomed (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.06. Abiomed had a return on equity of 11.86% and a net margin of 11.75%. The company earned $103 million during the quarter, compared to the consensus estimate of $97.23 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The firm’s revenue was up 40.3% compared to the same quarter last year.
Several other equities research analysts have also weighed in on ABMD. Jefferies Group reissued a “buy” rating and issued a $125.00 price objective on shares of Abiomed in a report on Friday, June 10th. Zacks Investment Research raised Abiomed from a “hold” rating to a “strong-buy” rating and set a $127.00 price objective for the company in a report on Tuesday, July 5th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $115.59.
Abiomed (NASDAQ:ABMD) opened at 128.58 on Friday. The firm has a market cap of $5.50 billion, a P/E ratio of 136.79 and a beta of 0.89. The stock has a 50 day moving average price of $121.96 and a 200 day moving average price of $107.97. Abiomed has a 1-year low of $67.81 and a 1-year high of $131.16.
In other Abiomed news, VP Michael G. Howley sold 17,853 shares of Abiomed stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $119.20, for a total transaction of $2,128,077.60. Following the completion of the transaction, the vice president now owns 65,558 shares of the company’s stock, valued at approximately $7,814,513.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael R. Minogue sold 5,034 shares of Abiomed stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $127.07, for a total value of $639,670.38. Following the sale, the chief executive officer now owns 215,782 shares of the company’s stock, valued at approximately $27,419,418.74. The disclosure for this sale can be found here. Company insiders own 10.00% of the company’s stock.
Several hedge funds have recently modified their holdings of ABMD. Cypress Capital Management LLC WY acquired a new stake in shares of Abiomed during the second quarter worth about $106,000. Bessemer Group Inc. increased its stake in shares of Abiomed by 94.3% in the first quarter. Bessemer Group Inc. now owns 1,226 shares of the company’s stock worth $116,000 after buying an additional 595 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Abiomed by 28.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,243 shares of the company’s stock worth $136,000 after buying an additional 278 shares during the period. Advisor Group Inc. acquired a new stake in shares of Abiomed during the second quarter worth about $204,000. Finally, World Asset Management Inc acquired a new stake in shares of Abiomed during the second quarter worth about $209,000. Hedge funds and other institutional investors own 93.65% of the company’s stock.
Abiomed Company Profile
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