ABIOMED, Inc. (ABMD) Issues Earnings Results
ABIOMED, Inc. (NASDAQ:ABMD) released its quarterly earnings data on Thursday. The medical equipment provider reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.40, Bloomberg Earnings reports. ABIOMED had a return on equity of 12.67% and a net margin of 11.70%. The business had revenue of $132.47 million for the quarter, compared to the consensus estimate of $130.83 million. During the same quarter in the previous year, the company posted $0.29 EPS. The company’s revenue was up 28.6% compared to the same quarter last year.
ABIOMED (ABMD) traded down 1.45% during trading on Thursday, hitting $142.97. The stock had a trading volume of 686,894 shares. The company’s 50 day moving average is $143.25 and its 200-day moving average is $127.82. The company has a market cap of $6.23 billion, a PE ratio of 122.20 and a beta of 0.20. ABIOMED has a 12 month low of $95.14 and a 12 month high of $147.45.
In other ABIOMED news, VP Michael G. Howley sold 600 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $132.84, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO David M. Weber sold 21,250 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $130.89, for a total value of $2,781,412.50. Following the sale, the chief operating officer now directly owns 123,771 shares of the company’s stock, valued at approximately $16,200,386.19. 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. Insiders own 7.00% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in ABIOMED by 10,945.5% in the first quarter. BlackRock Inc. now owns 3,270,245 shares of the medical equipment provider’s stock valued at $409,433,000 after buying an additional 3,240,638 shares during the period. Baillie Gifford & Co. boosted its stake in ABIOMED by 184.3% in the first quarter. Baillie Gifford & Co. now owns 1,672,435 shares of the medical equipment provider’s stock valued at $209,389,000 after buying an additional 1,084,264 shares during the period. Brown Capital Management LLC boosted its stake in ABIOMED by 30.5% in the first quarter. Brown Capital Management LLC now owns 915,700 shares of the medical equipment provider’s stock valued at $114,646,000 after buying an additional 213,889 shares during the period. Renaissance Technologies LLC boosted its stake in ABIOMED by 27.6% in the first quarter. Renaissance Technologies LLC now owns 668,700 shares of the medical equipment provider’s stock valued at $83,721,000 after buying an additional 144,800 shares during the period. Finally, State Treasurer State of Michigan boosted its stake in ABIOMED by 759.4% in the second quarter. State Treasurer State of Michigan now owns 141,800 shares of the medical equipment provider’s stock valued at $20,320,000 after buying an additional 125,300 shares during the period. 90.77% of the stock is owned by institutional investors.
ABMD has been the topic of a number of research reports. Leerink Swann lifted their price objective on ABIOMED from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 30th. Piper Jaffray Companies raised ABIOMED from a “neutral” rating to an “overweight” rating and set a $145.00 price objective on the stock in a research note on Thursday, April 6th. William Blair reaffirmed an “outperform” rating on shares of ABIOMED in a research note on Thursday, June 8th. BidaskClub downgraded ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Finally, Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. ABIOMED has a consensus rating of “Buy” and a consensus target price of $154.00.
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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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