Leerink Swann Equities Analysts Cut Earnings Estimates for ABIOMED, Inc. (ABMD)
ABIOMED, Inc. (NASDAQ:ABMD) – Investment analysts at Leerink Swann decreased their FY2021 earnings per share (EPS) estimates for ABIOMED in a research report issued on Monday, August 13th. Leerink Swann analyst D. Antalffy now anticipates that the medical equipment provider will post earnings per share of $5.81 for the year, down from their prior forecast of $5.84. Leerink Swann also issued estimates for ABIOMED’s FY2022 earnings at $7.14 EPS.
Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “buy” rating and set a $457.00 price objective on the stock in a research report on Tuesday, July 10th. Jefferies Financial Group boosted their price objective on shares of ABIOMED to $460.00 and gave the company a “buy” rating in a research report on Tuesday, May 29th. Morgan Stanley boosted their price objective on shares of ABIOMED from $259.00 to $320.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 1st. Finally, Piper Jaffray Companies boosted their price objective on shares of ABIOMED to $360.00 and gave the company an “overweight” rating in a research report on Thursday, May 3rd. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $374.88.
ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, July 26th. The medical equipment provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $1.15. The company had revenue of $180.01 million for the quarter, compared to analysts’ expectations of $173.87 million. ABIOMED had a net margin of 25.71% and a return on equity of 18.91%. The firm’s revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of ABIOMED during the 2nd quarter valued at about $1,660,000. Wealthsource Partners LLC boosted its stake in shares of ABIOMED by 24.6% during the 2nd quarter. Wealthsource Partners LLC now owns 887 shares of the medical equipment provider’s stock valued at $363,000 after purchasing an additional 175 shares in the last quarter. Tocqueville Asset Management L.P. bought a new stake in shares of ABIOMED during the 2nd quarter valued at about $695,000. AMP Capital Investors Ltd boosted its stake in shares of ABIOMED by 34.5% during the 2nd quarter. AMP Capital Investors Ltd now owns 42,308 shares of the medical equipment provider’s stock valued at $17,307,000 after purchasing an additional 10,850 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted its stake in shares of ABIOMED by 14.3% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 11,696 shares of the medical equipment provider’s stock valued at $4,784,000 after purchasing an additional 1,462 shares in the last quarter. 87.50% of the stock is currently owned by hedge funds and other institutional investors.
In other ABIOMED news, COO David M. Weber sold 46,500 shares of the business’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $442.63, for a total value of $20,582,295.00. Following the transaction, the chief operating officer now owns 189,657 shares in the company, valued at $83,947,877.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael R. Minogue sold 105,000 shares of the business’s stock in a transaction dated Thursday, June 21st. The shares were sold at an average price of $439.69, for a total transaction of $46,167,450.00. Following the completion of the transaction, the chairman now owns 481,150 shares in the company, valued at approximately $211,556,843.50. The disclosure for this sale can be found here. Insiders sold 170,782 shares of company stock worth $73,628,984 in the last 90 days. Corporate insiders own 3.50% of the company’s stock.
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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