ABIOMED, Inc. (NASDAQ:ABMD) Expected to Announce Quarterly Sales of $227.09 Million

Equities analysts forecast that ABIOMED, Inc. (NASDAQ:ABMD) will post $227.09 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for ABIOMED’s earnings, with the highest sales estimate coming in at $228.90 million and the lowest estimate coming in at $225.47 million. ABIOMED posted sales of $200.56 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.2%. The business is expected to announce its next quarterly earnings results on Thursday, January 30th.

According to Zacks, analysts expect that ABIOMED will report full year sales of $0.00 for the current fiscal year. For the next year, analysts expect that the company will report sales of $1.04 billion, with estimates ranging from $1.01 billion to $1.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow ABIOMED.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, October 31st. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.10. ABIOMED had a net margin of 26.92% and a return on equity of 19.89%. The company had revenue of $204.97 million for the quarter, compared to the consensus estimate of $206.45 million. During the same period last year, the firm posted $1.09 EPS. ABIOMED’s revenue for the quarter was up 12.8% on a year-over-year basis.

ABMD has been the subject of several analyst reports. TheStreet downgraded ABIOMED from a “b-” rating to a “c+” rating in a research note on Thursday, August 22nd. William Blair restated a “buy” rating on shares of ABIOMED in a research note on Monday, September 30th. ValuEngine raised ABIOMED from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Raymond James downgraded ABIOMED from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 29th. Finally, BidaskClub upgraded shares of ABIOMED from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $301.20.

A number of large investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY boosted its holdings in ABIOMED by 2.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 8,916 shares of the medical equipment provider’s stock worth $1,586,000 after buying an additional 174 shares in the last quarter. Man Group plc lifted its position in shares of ABIOMED by 453.0% during the 3rd quarter. Man Group plc now owns 18,686 shares of the medical equipment provider’s stock valued at $3,324,000 after acquiring an additional 15,307 shares during the period. Voloridge Investment Management LLC boosted its stake in shares of ABIOMED by 32.4% during the 3rd quarter. Voloridge Investment Management LLC now owns 69,432 shares of the medical equipment provider’s stock worth $12,351,000 after acquiring an additional 17,003 shares in the last quarter. National Pension Service grew its holdings in shares of ABIOMED by 5.5% in the 3rd quarter. National Pension Service now owns 54,881 shares of the medical equipment provider’s stock worth $9,763,000 after acquiring an additional 2,863 shares during the period. Finally, California State Teachers Retirement System grew its holdings in shares of ABIOMED by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 74,003 shares of the medical equipment provider’s stock worth $13,164,000 after acquiring an additional 852 shares during the period. Hedge funds and other institutional investors own 90.68% of the company’s stock.

Shares of ABMD opened at $189.22 on Monday. ABIOMED has a fifty-two week low of $155.02 and a fifty-two week high of $364.31. The firm has a 50-day simple moving average of $196.71 and a 200-day simple moving average of $217.03. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 52.56, a price-to-earnings-growth ratio of 1.69 and a beta of 0.32.

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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