Zacks: Analysts Anticipate ABIOMED, Inc. (ABMD) Will Post Earnings of $0.37 Per Share
Analysts expect ABIOMED, Inc. (NASDAQ:ABMD) to announce $0.37 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for ABIOMED’s earnings, with estimates ranging from $0.31 to $0.46. ABIOMED posted earnings of $0.20 per share in the same quarter last year, which suggests a positive year over year growth rate of 85%. The company is scheduled to report its next earnings report before the market opens on Thursday, October 26th.
On average, analysts expect that ABIOMED will report full year earnings of $2.23 per share for the current year, with EPS estimates ranging from $2.15 to $2.33. For the next fiscal year, analysts anticipate that the company will report earnings of $2.58 per share, with EPS estimates ranging from $2.26 to $3.09. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover ABIOMED.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data 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 firm had revenue of $132.47 million for the quarter, compared to the consensus estimate of $130.83 million. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. ABIOMED’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period last year, the firm posted $0.29 EPS.
Several brokerages have recently commented on ABMD. BidaskClub upgraded shares of ABIOMED from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Jefferies Group LLC upped their price target on shares of ABIOMED from $175.00 to $208.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Leerink Swann reiterated an “outperform” rating and set a $200.00 price target (up previously from $180.00) on shares of ABIOMED in a research report on Thursday, October 12th. BTIG Research downgraded shares of ABIOMED from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, SunTrust Banks, Inc. assumed coverage on shares of ABIOMED in a research report on Friday, September 29th. They set a “buy” rating and a $195.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. ABIOMED has an average rating of “Buy” and an average price target of $173.25.
Shares of ABIOMED (NASDAQ:ABMD) opened at 172.95 on Thursday. The company has a 50-day moving average of $163.04 and a 200 day moving average of $145.57. The company has a market capitalization of $7.63 billion, a P/E ratio of 101.14 and a beta of 0.27. ABIOMED has a 12 month low of $95.14 and a 12 month high of $175.71.
In other ABIOMED news, Director Paul Thomas sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $154.71, for a total transaction of $1,547,100.00. Following the completion of the sale, the director now directly owns 12,172 shares of the company’s stock, valued at approximately $1,883,130.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief operating officer now directly owns 125,122 shares of the company’s stock, valued at $18,471,760.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,782 shares of company stock worth $9,513,610. 7.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC increased its stake in shares of ABIOMED by 4.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 43,001 shares of the medical equipment provider’s stock valued at $5,384,000 after acquiring an additional 1,789 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in ABIOMED by 21.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,221 shares of the medical equipment provider’s stock worth $404,000 after purchasing an additional 558 shares in the last quarter. KBC Group NV bought a new stake in ABIOMED during the 1st quarter worth approximately $388,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in ABIOMED during the 1st quarter worth approximately $244,000. Finally, Stifel Financial Corp increased its stake in ABIOMED by 4.3% during the 1st quarter. Stifel Financial Corp now owns 3,918 shares of the medical equipment provider’s stock worth $496,000 after purchasing an additional 163 shares in the last quarter. 89.37% of the stock is owned by hedge funds and other institutional investors.
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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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