ABIOMED, Inc. Expected to Post Q4 2019 Earnings of $0.97 Per Share (ABMD)

ABIOMED, Inc. (NASDAQ:ABMD) – Research analysts at Piper Jaffray Companies boosted their Q4 2019 EPS estimates for ABIOMED in a note issued to investors on Thursday, November 1st. Piper Jaffray Companies analyst M. O’brien now forecasts that the medical equipment provider will post earnings per share of $0.97 for the quarter, up from their previous forecast of $0.96. Piper Jaffray Companies also issued estimates for ABIOMED’s Q1 2020 earnings at $1.04 EPS.

ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.36. ABIOMED had a net margin of 27.60% and a return on equity of 20.09%. The company had revenue of $181.78 million during the quarter, compared to the consensus estimate of $175.41 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year.

Several other equities research analysts also recently weighed in on the stock. BidaskClub raised shares of ABIOMED from a “hold” rating to a “buy” rating in a report on Wednesday, September 5th. Zacks Investment Research downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Morgan Stanley upped their price objective on shares of ABIOMED from $370.00 to $396.00 and gave the stock an “equal weight” rating in a report on Thursday, October 11th. ValuEngine downgraded shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 18th. Finally, BTIG Research raised shares of ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Friday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $391.67.

Shares of ABMD opened at $392.91 on Monday. The firm has a market cap of $17.24 billion, a PE ratio of 160.37, a PEG ratio of 4.07 and a beta of 0.35. ABIOMED has a 1 year low of $186.72 and a 1 year high of $459.75.

In related news, VP Michael G. Howley sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $432.50, for a total value of $4,325,000.00. Following the completion of the sale, the vice president now owns 48,954 shares of the company’s stock, valued at $21,172,605. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew J. Greenfield sold 4,440 shares of the company’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $395.00, for a total transaction of $1,753,800.00. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in ABIOMED by 1.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 9,139 shares of the medical equipment provider’s stock valued at $3,738,000 after acquiring an additional 146 shares during the last quarter. World Asset Management Inc lifted its holdings in ABIOMED by 5.2% in the 3rd quarter. World Asset Management Inc now owns 2,976 shares of the medical equipment provider’s stock valued at $1,338,000 after acquiring an additional 146 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in ABIOMED by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,856 shares of the medical equipment provider’s stock valued at $1,734,000 after acquiring an additional 150 shares during the last quarter. Wealthsource Partners LLC lifted its holdings in ABIOMED by 24.6% in the 2nd quarter. Wealthsource Partners LLC now owns 887 shares of the medical equipment provider’s stock valued at $363,000 after acquiring an additional 175 shares during the last quarter. Finally, Advisor Partners LLC lifted its holdings in ABIOMED by 26.4% in the 2nd quarter. Advisor Partners LLC now owns 1,057 shares of the medical equipment provider’s stock valued at $432,000 after acquiring an additional 221 shares during the last quarter. 87.14% of the stock is owned by institutional investors and hedge funds.

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; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.

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Earnings History and Estimates for ABIOMED (NASDAQ:ABMD)

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