Equities analysts forecast that ABIOMED, Inc. (NASDAQ:ABMD) will report $129.70 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for ABIOMED’s earnings, with the highest sales estimate coming in at $132.50 million and the lowest estimate coming in at $127.30 million. ABIOMED posted sales of $103.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 25.9%. The company is scheduled to issue its next earnings results on Thursday, July 27th.
According to Zacks, analysts expect that ABIOMED will report full-year sales of $129.70 million for the current year, with estimates ranging from $565.30 million to $574.53 million. For the next fiscal year, analysts anticipate that the company will report sales of $725.70 million per share, with estimates ranging from $709.50 million to $742.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for ABIOMED.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, May 4th. The medical equipment provider reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. The firm had revenue of $124.68 million for the quarter, compared to analyst estimates of $122.82 million. ABIOMED had a return on equity of 12.67% and a net margin of 11.70%. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share.
ABMD has been the topic of several research analyst reports. Leerink Swann boosted their price objective on ABIOMED from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, March 30th. Piper Jaffray Companies upgraded ABIOMED from a “neutral” rating to an “overweight” rating and set a $145.00 price objective on the stock in a report on Thursday, April 6th. Finally, William Blair reiterated an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. ABIOMED currently has a consensus rating of “Buy” and an average target price of $151.00.
In other news, VP Michael G. Howley sold 600 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $132.84, for a total value of $79,704.00. Following the transaction, the vice president now owns 48,305 shares in the company, valued at approximately $6,416,836.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael G. Howley sold 18,279 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $133.56, for a total value of $2,441,343.24. Following the completion of the transaction, the vice president now owns 62,105 shares in the company, valued at approximately $8,294,743.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,629 shares of company stock worth $7,072,580. Company insiders own 10.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of ABIOMED by 10,945.5% in the first quarter. BlackRock Inc. now owns 3,270,245 shares of the medical equipment provider’s stock worth $409,433,000 after buying an additional 3,240,638 shares during the period. Palo Alto Investors LLC boosted its stake in shares of ABIOMED by 0.9% in the first quarter. Palo Alto Investors LLC now owns 1,921,484 shares of the medical equipment provider’s stock worth $240,570,000 after buying an additional 17,900 shares during the period. Baillie Gifford & Co. boosted its stake in shares of ABIOMED by 184.3% in the first quarter. Baillie Gifford & Co. now owns 1,672,435 shares of the medical equipment provider’s stock worth $209,389,000 after buying an additional 1,084,264 shares during the period. William Blair Investment Management LLC boosted its stake in shares of ABIOMED by 8.9% in the first quarter. William Blair Investment Management LLC now owns 1,121,017 shares of the medical equipment provider’s stock worth $140,351,000 after buying an additional 91,651 shares during the period. Finally, State Street Corp boosted its stake in shares of ABIOMED by 2.0% in the first quarter. State Street Corp now owns 1,047,258 shares of the medical equipment provider’s stock worth $131,116,000 after buying an additional 20,221 shares during the period. Institutional investors and hedge funds own 91.34% of the company’s stock.
ABIOMED (ABMD) opened at 145.35 on Thursday. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 124.23 and a beta of 0.25. ABIOMED has a 52 week low of $95.14 and a 52 week high of $147.45. The stock’s 50 day moving average price is $137.13 and its 200 day moving average price is $122.78.
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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