ABIOMED, Inc. (NASDAQ:ABMD) – Equities researchers at William Blair cut their FY2021 earnings estimates for shares of ABIOMED in a research note issued to investors on Thursday, August 1st. William Blair analyst M. Kaczor now anticipates that the medical equipment provider will post earnings per share of $5.17 for the year, down from their prior estimate of $5.52. William Blair currently has a “Buy” rating on the stock.
Several other research firms have also recently commented on ABMD. ValuEngine cut ABIOMED from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. BidaskClub upgraded ABIOMED from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 24th. SunTrust Banks restated a “buy” rating and issued a $340.00 price target on shares of ABIOMED in a report on Friday, May 3rd. BTIG Research cut ABIOMED from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Finally, Guggenheim cut ABIOMED from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $316.50.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.99 by $0.01. The company had revenue of $207.70 million during the quarter, compared to analysts’ expectations of $210.96 million. ABIOMED had a return on equity of 19.84% and a net margin of 32.35%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.95 EPS.
Institutional investors and hedge funds have recently bought and sold shares of the business. Bremer Bank National Association acquired a new position in shares of ABIOMED in the 1st quarter valued at about $27,000. Sterling Investment Advisors Ltd. lifted its stake in shares of ABIOMED by 233.3% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 100 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 70 shares in the last quarter. Executive Wealth Management LLC lifted its stake in shares of ABIOMED by 100.0% in the 2nd quarter. Executive Wealth Management LLC now owns 100 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of ABIOMED in the 1st quarter valued at about $40,000. Finally, Tompkins Financial Corp acquired a new position in shares of ABIOMED in the 2nd quarter valued at about $39,000. Institutional investors own 87.90% of the company’s stock.
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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