ABIOMED, Inc. (ABMD) Expected to Announce Quarterly Sales of $130.80 Million
Equities analysts predict that ABIOMED, Inc. (NASDAQ:ABMD) will report sales of $130.80 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for ABIOMED’s earnings. The lowest sales estimate is $129.90 million and the highest is $132.08 million. ABIOMED reported sales of $102.96 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 27%. The company is scheduled to report its next earnings report before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that ABIOMED will report full year sales of $130.80 million for the current fiscal year, with estimates ranging from $569.60 million to $579.67 million. For the next fiscal year, analysts forecast that the company will report sales of $730.53 million per share, with estimates ranging from $710.30 million to $745.20 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for ABIOMED.
ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.03. The business had revenue of $132.47 million for the quarter, compared to analysts’ expectations of $130.83 million. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS.
Several analysts recently commented on ABMD shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 price objective (up previously from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. SunTrust Banks, Inc. started coverage on ABIOMED in a research note on Friday, September 29th. They set a “buy” rating and a $195.00 price objective on the stock. BTIG Research downgraded ABIOMED from a “buy” rating to a “neutral” rating in a research note on Monday, October 16th. Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, BidaskClub downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $173.25.
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In other ABIOMED news, Director Eric A. Md Rose sold 982 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $145.17, for a total transaction of $142,556.94. Following the completion of the transaction, the director now owns 13,634 shares in the company, valued at approximately $1,979,247.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Andrew J. Greenfield sold 11,282 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $169.32, for a total value of $1,910,268.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,782 shares of company stock valued at $9,513,610. Corporate insiders own 7.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in ABIOMED by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,947 shares of the medical equipment provider’s stock worth $852,000 after purchasing an additional 32 shares in the last quarter. BB&T Securities LLC increased its holdings in ABIOMED by 1.0% during the 2nd quarter. BB&T Securities LLC now owns 4,154 shares of the medical equipment provider’s stock worth $595,000 after purchasing an additional 43 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in ABIOMED by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,294 shares of the medical equipment provider’s stock worth $472,000 after purchasing an additional 51 shares in the last quarter. Capstone Asset Management Co. increased its holdings in ABIOMED by 1.1% during the 2nd quarter. Capstone Asset Management Co. now owns 6,410 shares of the medical equipment provider’s stock worth $919,000 after purchasing an additional 70 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in ABIOMED by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,842 shares of the medical equipment provider’s stock worth $982,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.
ABIOMED (NASDAQ ABMD) opened at 174.62 on Friday. ABIOMED has a one year low of $95.14 and a one year high of $175.79. The stock’s 50 day moving average price is $164.42 and its 200-day moving average price is $146.11. The stock has a market cap of $7.70 billion, a P/E ratio of 102.12 and a beta of 0.27.
ABIOMED Company Profile
ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.
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