$130.37 Million in Sales Expected for ABIOMED, Inc. (ABMD) This Quarter
Wall Street brokerages forecast that ABIOMED, Inc. (NASDAQ:ABMD) will post $130.37 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for ABIOMED’s earnings, with the highest sales estimate coming in at $131.20 million and the lowest estimate coming in at $129.90 million. ABIOMED reported sales of $102.96 million in the same quarter last year, which indicates a positive year-over-year growth rate of 26.6%. The business is expected to announce its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that ABIOMED will report full-year sales of $130.37 million for the current financial year, with estimates ranging from $569.60 million to $577.39 million. For the next financial year, analysts anticipate that the business will report sales of $730.28 million per share, with estimates ranging from $710.30 million to $746.10 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for ABIOMED.
ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The company had revenue of $132.47 million for the quarter, compared to analyst estimates of $130.83 million. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. ABIOMED’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share.
A number of analysts have recently commented on ABMD shares. William Blair reissued an “outperform” rating on shares of ABIOMED in a research note on Thursday, June 8th. BidaskClub cut ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Piper Jaffray Companies set a $145.00 target price on ABIOMED in a report on Tuesday, July 4th. Zacks Investment Research cut ABIOMED from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $140.00 target price (up from $135.00) on shares of ABIOMED in a report on Monday, July 10th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $156.86.
Shares of ABIOMED (NASDAQ ABMD) opened at 151.01 on Monday. The firm has a 50-day moving average price of $143.76 and a 200 day moving average price of $128.87. ABIOMED has a 12-month low of $95.14 and a 12-month high of $151.22. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 88.31 and a beta of 0.20.
In other ABIOMED news, COO David M. Weber sold 16,500 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $147.63, for a total value of $2,435,895.00. Following the transaction, the chief operating officer now owns 125,122 shares in the company, valued at $18,471,760.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 completion of the transaction, the vice president now owns 62,105 shares in the company, valued at approximately $8,294,743.80. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in ABMD. State Board of Administration of Florida Retirement System boosted its stake in shares of ABIOMED by 2.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 56,307 shares of the medical equipment provider’s stock worth $8,069,000 after buying an additional 1,176 shares in the last quarter. Redwood Investments LLC boosted its stake in shares of ABIOMED by 10.2% in the second quarter. Redwood Investments LLC now owns 60,628 shares of the medical equipment provider’s stock worth $8,688,000 after buying an additional 5,603 shares in the last quarter. BB&T Securities LLC boosted its stake in shares of ABIOMED by 1.0% in the second quarter. BB&T Securities LLC now owns 4,154 shares of the medical equipment provider’s stock worth $595,000 after buying an additional 43 shares in the last quarter. Turner Investments LLC boosted its stake in shares of ABIOMED by 4.3% in the second quarter. Turner Investments LLC now owns 9,600 shares of the medical equipment provider’s stock worth $1,376,000 after buying an additional 400 shares in the last quarter. Finally, Frontier Capital Management Co. LLC bought a new stake in shares of ABIOMED during the second quarter worth $23,319,000. 90.68% of the stock is owned by institutional investors.
ABIOMED Company Profile
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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