Wall Street brokerages predict that Abiomed (NASDAQ:ABMD) will announce $0.64 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Abiomed’s earnings, with the lowest EPS estimate coming in at $0.62 and the highest estimate coming in at $0.66. Abiomed posted earnings per share of $0.33 during the same quarter last year, which suggests a positive year-over-year growth rate of 93.9%. The company is scheduled to report its next quarterly earnings report on Thursday, May 3rd.
On average, analysts expect that Abiomed will report full year earnings of $2.29 per share for the current financial year, with EPS estimates ranging from $2.24 to $2.31. For the next year, analysts expect that the business will report earnings of $3.23 per share, with EPS estimates ranging from $3.01 to $3.82. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Abiomed.
Abiomed (NASDAQ:ABMD) last issued its earnings results on Thursday, February 1st. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.20. The business had revenue of $154.00 million during the quarter, compared to analyst estimates of $154.00 million. Abiomed had a return on equity of 15.54% and a net margin of 16.58%. Abiomed’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share.
Several analysts have issued reports on ABMD shares. Jefferies Group upped their target price on Abiomed to $250.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Goldman Sachs started coverage on Abiomed in a research note on Wednesday, April 4th. They issued a “buy” rating and a $332.00 target price for the company. BidaskClub raised Abiomed from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 20th. SunTrust Banks reaffirmed a “buy” rating and issued a $370.00 target price on shares of Abiomed in a research note on Friday, February 16th. Finally, Leerink Swann upped their target price on Abiomed to $300.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $309.50.
Shares of ABMD opened at $296.40 on Thursday. The company has a market capitalization of $13,295.74, a price-to-earnings ratio of 253.33, a PEG ratio of 2.95 and a beta of 0.17. Abiomed has a 1 year low of $117.36 and a 1 year high of $304.28.
In other Abiomed news, VP Andrew J. Greenfield sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $270.36, for a total value of $5,407,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB bought a new position in shares of Abiomed during the fourth quarter valued at approximately $683,000. William Blair Investment Management LLC raised its holdings in shares of Abiomed by 1.9% during the fourth quarter. William Blair Investment Management LLC now owns 962,867 shares of the medical equipment provider’s stock valued at $180,451,000 after acquiring an additional 18,006 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Abiomed during the fourth quarter valued at approximately $4,981,000. Gotham Asset Management LLC bought a new position in shares of Abiomed during the fourth quarter valued at approximately $993,000. Finally, BB&T Securities LLC bought a new position in shares of Abiomed during the fourth quarter valued at approximately $219,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.
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Abiomed Company Profile
ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; Impella CP that provides partial circulatory support using an extracorporeal bypass control unit; Impella 5.0 catheter and Impella LD, which are percutaneous micro heart pumps with integrated motors and sensors for use primarily in the heart surgery suite; and Impella RP, a percutaneous catheter-based axial flow pump.
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