Zacks Reiterates “Neutral” Rating for ABIOMED (ABMD)
ABIOMED (NASDAQ:ABMD)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Tuesday. They currently have a $27.00 price objective on the stock. Zacks‘s price objective would suggest a potential upside of 6.26% from the stock’s previous close.
Zacks’ analyst wrote, “ABIOMED is a medical device company with a blue streak growth path. The company enjoys a strong demand for its Impella products. Multiple near-term drivers, including new products and clinical trials, should further boost the use of Impella. ABIOMED’s fiscal 2015-first quarter results were disappointing as it posted a loss of $0.04 per share and missed the Zacks Consensus Estimate of earnings of $0.02 per share. Increasing costs and expenses is a matter of concern as it drove the loss in the quarter and more than offset the impact of increased revenues. The company reiterated its revenues guidance between $205 and $212 million, an estimated rise of 12-15% over the prior fiscal year. As a result, we reiterate our Neutral recommendation with a price target of $27.00.”
Shares of ABIOMED (NASDAQ:ABMD) traded up 0.43% on Tuesday, hitting $25.41. The stock had a trading volume of 206,388 shares. ABIOMED has a one year low of $18.15 and a one year high of $30.77. The stock’s 50-day moving average is $24.93 and its 200-day moving average is $25.20. The company has a market cap of $1.018 billion and a price-to-earnings ratio of 142.94.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.01 by $0.05. The company had revenue of $48.80 million for the quarter, compared to the consensus estimate of $297.10 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 16.3% on a year-over-year basis. Analysts expect that ABIOMED will post $0.12 EPS for the current fiscal year.
In other ABIOMED news, CEO Michael R. Minogue sold 82,383 shares of the stock on the open market in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $26.30, for a total value of $2,166,672.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
ABIOMED, Inc is a provider of mechanical circulatory support devices and offers a continuum of care to heart failure patients.
To view Zacks’ full report, visit Zacks’ official website.
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