Wall Street analysts predict that Abiomed, Inc. (NASDAQ:ABMD) will report $230.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Abiomed’s earnings, with the highest sales estimate coming in at $232.60 million and the lowest estimate coming in at $228.90 million. Abiomed posted sales of $206.66 million during the same quarter last year, which suggests a positive year over year growth rate of 11.6%. The firm is scheduled to announce its next quarterly earnings report on Thursday, April 29th.
According to Zacks, analysts expect that Abiomed will report full year sales of $835.39 million for the current financial year, with estimates ranging from $826.90 million to $838.90 million. For the next year, analysts expect that the company will post sales of $959.92 million, with estimates ranging from $836.20 million to $1.00 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Abiomed.
Abiomed (NASDAQ:ABMD) last posted its quarterly earnings data on Wednesday, January 27th. The medical equipment provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.20. Abiomed had a net margin of 25.89% and a return on equity of 15.34%. The firm had revenue of $231.66 million during the quarter, compared to analysts’ expectations of $226.31 million. During the same quarter in the previous year, the company posted $0.39 EPS. Abiomed’s revenue was up 4.5% on a year-over-year basis.
Several research analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Abiomed from $350.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. SVB Leerink boosted their price objective on shares of Abiomed from $320.00 to $375.00 and gave the stock a “market perform” rating in a research report on Friday, January 29th. TheStreet upgraded shares of Abiomed from a “c+” rating to a “b-” rating in a research report on Friday, January 15th. Finally, Morgan Stanley boosted their price objective on shares of Abiomed from $238.00 to $245.00 and gave the stock an “underweight” rating in a research report on Friday, January 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $272.00.
ABMD stock traded down $1.06 during trading on Tuesday, hitting $321.69. The company had a trading volume of 335,092 shares, compared to its average volume of 371,134. The firm has a 50-day moving average price of $331.56 and a 200-day moving average price of $294.23. Abiomed has a 12 month low of $119.01 and a 12 month high of $387.40. The stock has a market cap of $14.55 billion, a price-to-earnings ratio of 70.70, a PEG ratio of 4.15 and a beta of 1.41.
In other news, VP Andrew J. Greenfield sold 7,156 shares of the business’s stock in a transaction on Tuesday, December 22nd. The shares were sold at an average price of $295.87, for a total value of $2,117,245.72. Also, VP Andrew J. Greenfield sold 5,000 shares of the business’s stock in a transaction on Thursday, January 28th. The shares were sold at an average price of $366.00, for a total transaction of $1,830,000.00. Following the completion of the transaction, the vice president now directly owns 36,930 shares of the company’s stock, valued at approximately $13,516,380. The disclosure for this sale can be found here. Insiders have sold a total of 17,156 shares of company stock valued at $5,552,246 in the last ninety days. Company insiders own 3.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Centaurus Financial Inc. grew its holdings in shares of Abiomed by 3.5% in the 4th quarter. Centaurus Financial Inc. now owns 884 shares of the medical equipment provider’s stock valued at $287,000 after buying an additional 30 shares during the period. Fifth Third Bancorp boosted its stake in Abiomed by 6.7% in the 3rd quarter. Fifth Third Bancorp now owns 576 shares of the medical equipment provider’s stock worth $160,000 after purchasing an additional 36 shares during the period. Advisor Partners LLC boosted its stake in Abiomed by 3.1% in the 3rd quarter. Advisor Partners LLC now owns 1,238 shares of the medical equipment provider’s stock worth $343,000 after purchasing an additional 37 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Abiomed by 1.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,779 shares of the medical equipment provider’s stock worth $769,000 after purchasing an additional 39 shares during the period. Finally, Malaga Cove Capital LLC boosted its stake in Abiomed by 0.9% in the 3rd quarter. Malaga Cove Capital LLC now owns 4,271 shares of the medical equipment provider’s stock worth $1,183,000 after purchasing an additional 40 shares during the period. 93.95% of the stock is owned by institutional investors.
Abiomed Company Profile
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 a 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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