ABIOMED, Inc. (NASDAQ:ABMD) Expected to Post Quarterly Sales of $206.47 Million

Equities research analysts expect ABIOMED, Inc. (NASDAQ:ABMD) to report sales of $206.47 million for the current quarter, according to Zacks. Five analysts have provided estimates for ABIOMED’s earnings, with the lowest sales estimate coming in at $205.00 million and the highest estimate coming in at $207.40 million. ABIOMED reported sales of $181.78 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.6%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that ABIOMED will report full year sales of $893.80 million for the current year, with estimates ranging from $884.50 million to $904.60 million. For the next fiscal year, analysts forecast that the business will post sales of $1.05 billion, with estimates ranging from $1.02 billion to $1.08 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover ABIOMED.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.01. The firm had revenue of $207.70 million for the quarter, compared to analyst estimates of $210.96 million. ABIOMED had a net margin of 32.35% and a return on equity of 19.84%. ABIOMED’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.95 EPS.

Several brokerages have recently commented on ABMD. William Blair restated a “buy” rating on shares of ABIOMED in a report on Friday, August 2nd. ValuEngine upgraded shares of ABIOMED from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Guggenheim downgraded shares of ABIOMED from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. BidaskClub lowered ABIOMED from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 31st. Finally, Morgan Stanley cut ABIOMED from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $325.00 to $215.00 in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $316.50.

In other ABIOMED news, COO David M. Weber sold 8,095 shares of ABIOMED stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.26, for a total value of $1,669,674.70. Following the completion of the transaction, the chief operating officer now directly owns 132,913 shares of the company’s stock, valued at approximately $27,414,635.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Executive Wealth Management LLC raised its stake in shares of ABIOMED by 100.0% in the second quarter. Executive Wealth Management LLC now owns 100 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Bremer Bank National Association purchased a new stake in shares of ABIOMED during the first quarter worth approximately $27,000. Tompkins Financial Corp purchased a new stake in shares of ABIOMED during the second quarter worth approximately $39,000. Meridian Wealth Management LLC purchased a new stake in shares of ABIOMED during the first quarter worth approximately $40,000. Finally, Cornerstone Advisors Inc. raised its holdings in ABIOMED by 94.1% in the first quarter. Cornerstone Advisors Inc. now owns 165 shares of the medical equipment provider’s stock valued at $47,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

Shares of ABMD traded down $0.75 during trading on Friday, reaching $191.07. 484,606 shares of the company traded hands, compared to its average volume of 634,107. The stock has a 50-day simple moving average of $207.00 and a 200-day simple moving average of $261.59. The stock has a market cap of $8.70 billion, a PE ratio of 53.08, a price-to-earnings-growth ratio of 1.65 and a beta of 0.45. ABIOMED has a twelve month low of $180.00 and a twelve month 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.

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Earnings History and Estimates for ABIOMED (NASDAQ:ABMD)

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