Analysts Expect ABIOMED, Inc. (ABMD) Will Post Quarterly Sales of $129.70 Million
Analysts expect ABIOMED, Inc. (NASDAQ:ABMD) to report $129.70 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued 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 reported sales of $103.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.9%. The business is expected to announce its next quarterly 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 financial year, analysts expect that the business will report sales of $725.70 million per share, with estimates ranging from $709.50 million to $742.20 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for ABIOMED.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, May 4th. The medical equipment provider reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. ABIOMED had a return on equity of 12.67% and a net margin of 11.70%. The company had revenue of $124.68 million during the quarter, compared to the consensus estimate of $122.82 million. During the same period last year, the company earned $0.24 earnings per share. ABIOMED’s revenue was up 32.7% on a year-over-year basis.
A number of research firms recently issued reports on ABMD. Leerink Swann raised their price target on ABIOMED from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 30th. William Blair reissued an “outperform” rating on shares of ABIOMED in a research report on Thursday, June 8th. Finally, Piper Jaffray Companies raised ABIOMED from a “neutral” rating to an “overweight” rating and set a $145.00 price target for the company in a research report on Thursday, April 6th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. ABIOMED presently has a consensus rating of “Buy” and a consensus price target of $151.00.
Shares of ABIOMED (NASDAQ ABMD) opened at 145.35 on Thursday. The company has a market capitalization of $6.33 billion, a P/E ratio of 124.23 and a beta of 0.25. The stock’s 50 day moving average price is $137.13 and its 200 day moving average price is $122.78. ABIOMED has a 52-week low of $95.14 and a 52-week high of $147.45.
In other news, VP Michael G. Howley sold 600 shares of ABIOMED stock in a transaction on Monday, May 8th. The stock was sold at an average price of $132.84, for a total value of $79,704.00. Following the completion of the sale, the vice president now owns 48,305 shares of the company’s stock, valued at $6,416,836.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael G. Howley sold 18,279 shares of the business’s 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 sale, the vice president now directly owns 62,105 shares of the company’s stock, valued at approximately $8,294,743.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,629 shares of company stock valued at $7,072,580. Company insiders own 10.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its stake in ABIOMED by 0.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 55,397 shares of the medical equipment provider’s stock worth $6,242,000 after buying an additional 209 shares during the period. Comerica Bank increased its stake in ABIOMED by 7.1% in the fourth quarter. Comerica Bank now owns 29,970 shares of the medical equipment provider’s stock worth $3,467,000 after buying an additional 1,975 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in ABIOMED by 0.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,973 shares of the medical equipment provider’s stock worth $673,000 after buying an additional 53 shares during the period. Dimensional Fund Advisors LP increased its stake in ABIOMED by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 132,006 shares of the medical equipment provider’s stock worth $14,875,000 after buying an additional 4,990 shares during the period. Finally, Royce & Associates LP purchased a new stake in ABIOMED during the fourth quarter worth about $1,127,000. 91.34% of the stock is owned by hedge funds and other institutional investors.
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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