Brokerages expect ABIOMED, Inc. (NASDAQ:ABMD) to announce earnings of $0.93 per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for ABIOMED’s earnings. The highest EPS estimate is $1.01 and the lowest is $0.86. ABIOMED reported earnings of $0.81 per share in the same quarter last year, which would suggest a positive year over year growth rate of 14.8%. The firm is expected to announce its next quarterly earnings report on Thursday, November 7th.
According to Zacks, analysts expect that ABIOMED will report full-year earnings of $4.42 per share for the current fiscal year, with EPS estimates ranging from $4.19 to $4.80. For the next fiscal year, analysts forecast that the company will report earnings of $5.39 per share, with EPS estimates ranging from $4.86 to $6.24. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow ABIOMED.
ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. The company had revenue of $207.70 million for the quarter, compared to the consensus estimate of $210.96 million. ABIOMED had a return on equity of 19.84% and a net margin of 32.35%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 EPS.
A number of brokerages have recently weighed in on ABMD. BTIG Research downgraded ABIOMED from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. SunTrust Banks restated a “buy” rating and issued a $340.00 price objective on shares of ABIOMED in a report on Friday, May 3rd. ValuEngine downgraded ABIOMED from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. William Blair restated a “buy” rating on shares of ABIOMED in a report on Friday, August 2nd. Finally, Zacks Investment Research downgraded ABIOMED from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. ABIOMED currently has a consensus rating of “Hold” and an average target price of $316.50.
In related news, COO David M. Weber sold 8,095 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.26, for a total value of $1,669,674.70. Following the transaction, the chief operating officer now owns 132,913 shares in the company, valued at $27,414,635.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Executive Wealth Management LLC grew its holdings in ABIOMED by 100.0% during the second quarter. Executive Wealth Management LLC now owns 100 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its position in shares of ABIOMED by 1.4% in the first quarter. Piedmont Investment Advisors Inc. now owns 3,805 shares of the medical equipment provider’s stock valued at $1,087,000 after acquiring an additional 51 shares during the period. World Asset Management Inc boosted its position in shares of ABIOMED by 2.0% in the second quarter. World Asset Management Inc now owns 2,922 shares of the medical equipment provider’s stock valued at $761,000 after acquiring an additional 56 shares during the period. Chartwell Investment Partners LLC boosted its position in shares of ABIOMED by 5.0% in the first quarter. Chartwell Investment Partners LLC now owns 1,324 shares of the medical equipment provider’s stock valued at $378,000 after acquiring an additional 63 shares during the period. Finally, Sterling Investment Advisors Ltd. boosted its position in shares of ABIOMED by 233.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 100 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 70 shares during the period. Institutional investors own 86.63% of the company’s stock.
Shares of ABMD traded down $5.56 during trading hours on Wednesday, reaching $191.59. The company’s stock had a trading volume of 355,790 shares, compared to its average volume of 655,053. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 53.22, a price-to-earnings-growth ratio of 1.69 and a beta of 0.31. ABIOMED has a 1-year low of $181.02 and a 1-year high of $459.75. The firm has a 50 day moving average of $244.53.
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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