Abiomed, Inc. (NASDAQ:ABMD) Expected to Post Earnings of $1.10 Per Share


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Equities research analysts expect Abiomed, Inc. (NASDAQ:ABMD) to report earnings of $1.10 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Abiomed’s earnings, with the highest EPS estimate coming in at $1.17 and the lowest estimate coming in at $1.01. Abiomed posted earnings per share of $1.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 10%. The company is scheduled to issue its next quarterly earnings report on Thursday, April 29th.

According to Zacks, analysts expect that Abiomed will report full year earnings of $4.80 per share for the current financial year, with EPS estimates ranging from $4.70 to $4.87. For the next year, analysts anticipate that the firm will report earnings of $4.81 per share, with EPS estimates ranging from $4.24 to $5.39. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Abiomed.

Abiomed (NASDAQ:ABMD) last announced its quarterly earnings results on Wednesday, January 27th. The medical equipment provider reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.20. The company had revenue of $231.66 million during the quarter, compared to the consensus estimate of $226.31 million. Abiomed had a return on equity of 15.34% and a net margin of 25.89%. Abiomed’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS.

ABMD has been the subject of several research analyst reports. Piper Sandler increased their price objective on Abiomed from $350.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. TheStreet raised Abiomed from a “c+” rating to a “b-” rating in a report on Friday, January 15th. Morgan Stanley upped their price objective on Abiomed from $238.00 to $245.00 and gave the company an “underweight” rating in a research note on Friday, January 29th. Finally, SVB Leerink lifted their target price on Abiomed from $320.00 to $375.00 and gave the company a “market perform” rating in a research note on Friday, January 29th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Abiomed has an average rating of “Hold” and a consensus price target of $301.25.

NASDAQ:ABMD traded up $3.28 during mid-day trading on Thursday, reaching $323.90. 46 shares of the stock were exchanged, compared to its average volume of 333,356. The stock has a market capitalization of $14.65 billion, a P/E ratio of 70.47, a P/E/G ratio of 4.15 and a beta of 1.41. Abiomed has a 1 year low of $151.46 and a 1 year high of $387.40. The company has a 50 day simple moving average of $310.54 and a 200-day simple moving average of $297.35.

In related news, VP Andrew J. Greenfield sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 28th. The shares were sold at an average price of $366.00, for a total value of $1,830,000.00. Following the completion of the sale, the vice president now owns 36,930 shares in the company, valued at $13,516,380. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.40% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in ABMD. Norges Bank purchased a new stake in Abiomed during the fourth quarter worth about $130,690,000. BlackRock Inc. grew its holdings in shares of Abiomed by 4.6% in the 4th quarter. BlackRock Inc. now owns 4,127,359 shares of the medical equipment provider’s stock worth $1,338,089,000 after acquiring an additional 181,751 shares during the period. Baillie Gifford & Co. increased its stake in Abiomed by 3.3% in the 4th quarter. Baillie Gifford & Co. now owns 3,041,827 shares of the medical equipment provider’s stock valued at $986,159,000 after purchasing an additional 96,574 shares in the last quarter. Alliancebernstein L.P. increased its stake in Abiomed by 10.8% in the 4th quarter. Alliancebernstein L.P. now owns 809,994 shares of the medical equipment provider’s stock valued at $262,600,000 after purchasing an additional 78,839 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Abiomed by 19.5% during the fourth quarter. Wells Fargo & Company MN now owns 450,735 shares of the medical equipment provider’s stock worth $146,128,000 after purchasing an additional 73,601 shares during the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

About Abiomed

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 a 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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