Equities research analysts expect that ABIOMED, Inc. (NASDAQ:ABMD) will post sales of $147.65 million for the current quarter, according to Zacks. Five analysts have provided estimates for ABIOMED’s earnings. The highest sales estimate is $149.45 million and the lowest is $145.70 million. ABIOMED posted sales of $114.67 million during the same quarter last year, which suggests a positive year over year growth rate of 28.8%. The company is scheduled to report its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that ABIOMED will report full-year sales of $147.65 million for the current year, with estimates ranging from $571.70 million to $580.46 million. For the next year, analysts anticipate that the firm will report sales of $733.05 million per share, with estimates ranging from $720.10 million to $749.30 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover ABIOMED.
ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.16. The firm had revenue of $132.80 million for the quarter, compared to the consensus estimate of $131.18 million. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share.
Several equities research analysts have issued reports on ABMD shares. Zacks Investment Research upgraded ABIOMED from a “sell” rating to a “buy” rating and set a $203.00 target price on the stock in a research report on Monday, October 30th. BidaskClub downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. SunTrust Banks restated a “buy” rating and set a $195.00 target price on shares of ABIOMED in a research report on Wednesday, November 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $160.00 price objective on shares of ABIOMED in a research report on Tuesday, August 29th. Finally, Jefferies Group increased their price objective on ABIOMED from $175.00 to $208.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $190.43.
In related news, VP Michael G. Howley sold 10,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $178.64, for a total value of $1,786,400.00. Following the sale, the vice president now owns 56,757 shares in the company, valued at $10,139,070.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dorothy E. Puhy sold 6,364 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $179.08, for a total value of $1,139,665.12. Following the completion of the sale, the director now owns 39,532 shares in the company, valued at approximately $7,079,390.56. The disclosure for this sale can be found here. Insiders sold 27,646 shares of company stock worth $4,836,333 in the last quarter. 7.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC raised its position in ABIOMED by 2.2% during the third quarter. Sterling Capital Management LLC now owns 13,139 shares of the medical equipment provider’s stock valued at $2,215,000 after purchasing an additional 281 shares in the last quarter. California Public Employees Retirement System raised its position in ABIOMED by 1.7% during the third quarter. California Public Employees Retirement System now owns 83,398 shares of the medical equipment provider’s stock valued at $14,061,000 after purchasing an additional 1,398 shares in the last quarter. Janney Montgomery Scott LLC raised its position in ABIOMED by 46.3% during the third quarter. Janney Montgomery Scott LLC now owns 2,903 shares of the medical equipment provider’s stock valued at $489,000 after purchasing an additional 919 shares in the last quarter. Balentine LLC purchased a new stake in ABIOMED during the third quarter valued at about $253,000. Finally, Cubist Systematic Strategies LLC raised its position in ABIOMED by 49.2% during the third quarter. Cubist Systematic Strategies LLC now owns 5,345 shares of the medical equipment provider’s stock valued at $901,000 after purchasing an additional 1,763 shares in the last quarter. Institutional investors and hedge funds own 90.45% of the company’s stock.
ABIOMED (NASDAQ ABMD) traded up $3.82 during trading hours on Friday, hitting $193.89. The company’s stock had a trading volume of 226,180 shares, compared to its average volume of 337,149. The stock has a market capitalization of $8,344.03, a P/E ratio of 120.97, a P/E/G ratio of 2.51 and a beta of 0.15. ABIOMED has a 12-month low of $103.53 and a 12-month high of $200.28. The company has a current ratio of 5.84, a quick ratio of 5.20 and a debt-to-equity ratio of 0.02.
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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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