ABIOMED, Inc. (ABMD) Expected to Announce Quarterly Sales of $210.58 Million

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Equities research analysts forecast that ABIOMED, Inc. (NASDAQ:ABMD) will report $210.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. 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 suggests a positive year-over-year growth rate of 17%. The firm is scheduled to announce its next earnings report on Thursday, July 25th.

On average, analysts expect that ABIOMED will report full year sales of $925.30 million for the current fiscal year, with estimates ranging from $919.80 million to $943.41 million. For the next financial year, analysts forecast 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 firms that follow ABIOMED.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.53. ABIOMED had a return on equity of 20.32% and a net margin of 33.66%. The business had revenue of $207.08 million during the quarter, compared to analyst estimates of $218.88 million. During the same period in the prior year, the company posted $0.80 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year.

A number of brokerages recently issued reports on ABMD. Zacks Investment Research lowered ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. ValuEngine lowered ABIOMED from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. BidaskClub lowered ABIOMED from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Finally, BTIG Research restated a “buy” rating on shares of ABIOMED in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $408.67.

In other news, Director Martin P. Sutter sold 4,664 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $259.97, for a total value of $1,212,500.08. Following the transaction, the director now directly owns 192,550 shares of the company’s stock, valued at $50,057,223.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Sontag Advisory LLC acquired a new position in ABIOMED during the fourth quarter worth $25,000. We Are One Seven LLC bought a new stake in ABIOMED during the fourth quarter valued at about $26,000. Cornerstone Advisors Inc. boosted its holdings in ABIOMED by 304.8% during the fourth quarter. Cornerstone Advisors Inc. now owns 85 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 64 shares during the period. Shine Investment Advisory Services Inc. boosted its holdings in ABIOMED by 319.0% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 88 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 67 shares during the period. Finally, Bremer Bank National Association bought a new stake in ABIOMED during the first quarter valued at about $27,000. 87.85% of the stock is currently owned by hedge funds and other institutional investors.

ABMD stock traded up $4.91 on Friday, reaching $265.25. The company’s stock had a trading volume of 13,439 shares, compared to its average volume of 670,610. ABIOMED has a 52 week low of $228.00 and a 52 week high of $459.75. The firm has a market capitalization of $11.53 billion, a price-to-earnings ratio of 73.41, a price-to-earnings-growth ratio of 2.03 and a beta of 0.29.

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.

Read More: Limitations of the P/E Growth ratio

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Earnings History and Estimates for ABIOMED (NASDAQ:ABMD)

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