Analysts predict that ABIOMED, Inc. (NASDAQ:ABMD) will announce $210.58 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for ABIOMED’s earnings. The highest sales estimate is $210.80 million and the lowest is $210.30 million. ABIOMED posted sales of $180.01 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 17%. The business is scheduled to announce its next quarterly earnings report on Thursday, July 25th.
According to Zacks, analysts expect that ABIOMED will report full year sales of $925.30 million for the current financial year, with estimates ranging from $919.80 million to $943.41 million. For the next fiscal year, analysts anticipate that the company will report sales of $1.13 billion, with estimates ranging from $1.10 billion to $1.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow ABIOMED.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.53. The firm had revenue of $207.08 million during the quarter, compared to analysts’ expectations of $218.88 million. ABIOMED had a net margin of 33.66% and a return on equity of 20.32%. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share.
A number of analysts have commented on ABMD shares. SunTrust Banks reiterated a “buy” rating and issued a $340.00 price target on shares of ABIOMED in a research note on Friday, May 3rd. BTIG Research restated a “buy” rating on shares of ABIOMED in a research note on Tuesday, May 7th. BidaskClub cut shares of ABIOMED from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Zacks Investment Research cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, ValuEngine cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. ABIOMED has a consensus rating of “Hold” and a consensus price target of $398.40.
In other news, Director Martin P. Sutter sold 4,664 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $259.97, for a total transaction of $1,212,500.08. Following the completion of the sale, the director now owns 192,550 shares in the company, valued at approximately $50,057,223.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sontag Advisory LLC bought a new position in ABIOMED during the fourth quarter worth about $25,000. Bremer Bank National Association bought a new position in ABIOMED during the first quarter worth about $27,000. Sterling Investment Advisors Ltd. increased its position in ABIOMED by 233.3% during the first quarter. Sterling Investment Advisors Ltd. now owns 100 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 70 shares during the period. Captrust Financial Advisors increased its position in ABIOMED by 1,187.5% during the fourth quarter. Captrust Financial Advisors now owns 103 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 95 shares during the period. Finally, Meridian Wealth Management LLC bought a new position in ABIOMED during the first quarter worth about $40,000. Institutional investors own 87.13% of the company’s stock.
ABMD stock traded down $4.53 during trading hours on Friday, reaching $251.00. The stock had a trading volume of 469,700 shares, compared to its average volume of 669,203. The stock has a market cap of $11.49 billion, a P/E ratio of 69.72, a P/E/G ratio of 2.02 and a beta of 0.39. ABIOMED has a fifty-two week low of $228.00 and a fifty-two week high of $459.75.
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.
See Also: Buy Rating
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ABIOMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABIOMED and related companies with MarketBeat.com's FREE daily email newsletter.