Zacks: Analysts Expect ABIOMED, Inc. (ABMD) Will Post Quarterly Sales of $147.65 Million

Analysts expect ABIOMED, Inc. (NASDAQ:ABMD) to report sales of $147.65 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for ABIOMED’s earnings. The highest sales estimate is $149.45 million and the lowest is $145.70 million. ABIOMED posted sales of $114.67 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 28.8%. The business is scheduled to report its next quarterly earnings results on Thursday, January 25th.

On average, analysts expect that ABIOMED will report full year sales of $147.65 million for the current year, with estimates ranging from $571.70 million to $580.46 million. For the next fiscal year, analysts anticipate that the business will report sales of $733.05 million per share, with estimates ranging from $720.10 million to $749.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for ABIOMED.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. The company had revenue of $132.80 million for the quarter, compared to analyst estimates of $131.18 million. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 earnings per share.

A number of brokerages have recently commented on ABMD. Zacks Investment Research upgraded ABIOMED from a “hold” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Tuesday, November 7th. Jefferies Group boosted their price target on ABIOMED from $175.00 to $208.00 and gave the company a “buy” rating in a report on Friday, September 29th. Piper Jaffray Companies restated a “buy” rating and issued a $160.00 price target on shares of ABIOMED in a report on Tuesday, August 29th. BTIG Research restated a “hold” rating on shares of ABIOMED in a report on Sunday, October 29th. Finally, SunTrust Banks restated a “buy” rating and issued a $195.00 price target on shares of ABIOMED in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $190.43.

Shares of ABIOMED (NASDAQ:ABMD) opened at $188.71 on Friday. The company has a market capitalization of $8,536.37, a PE ratio of 123.76, a PEG ratio of 2.57 and a beta of 0.15. ABIOMED has a twelve month low of $103.53 and a twelve month high of $200.28. The company has a quick ratio of 5.20, a current ratio of 5.84 and a debt-to-equity ratio of 0.02.

In related news, VP Michael G. Howley sold 10,000 shares of ABIOMED stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $178.64, for a total value of $1,786,400.00. Following the sale, the vice president now owns 56,757 shares of the company’s stock, valued at $10,139,070.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dorothy E. Puhy sold 6,364 shares of ABIOMED stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $179.08, for a total value of $1,139,665.12. Following the completion of the sale, the director now directly owns 39,532 shares in the company, valued at approximately $7,079,390.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,646 shares of company stock worth $4,836,333. 7.00% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in ABMD. Seven Eight Capital LP acquired a new stake in shares of ABIOMED in the second quarter valued at about $100,000. Rehmann Capital Advisory Group acquired a new position in ABIOMED during the third quarter worth approximately $202,000. Sigma Planning Corp acquired a new position in ABIOMED during the third quarter worth approximately $206,000. Dorsey & Whitney Trust CO LLC acquired a new position in ABIOMED during the third quarter worth approximately $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in ABIOMED by 15.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock worth $217,000 after buying an additional 197 shares during the last quarter. 90.92% of the stock is currently owned by institutional investors and hedge funds.

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ABIOMED Company Profile

ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.

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Earnings History and Estimates for ABIOMED (NASDAQ:ABMD)

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