Analysts Anticipate Abiomed, Inc. (NASDAQ:ABMD) Will Post Quarterly Sales of $241.10 Million

Equities research analysts expect that Abiomed, Inc. (NASDAQ:ABMD) will post $241.10 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Abiomed’s earnings, with the lowest sales estimate coming in at $236.50 million and the highest estimate coming in at $243.60 million. Abiomed reported sales of $164.85 million in the same quarter last year, which indicates a positive year-over-year growth rate of 46.3%. The business is scheduled to announce its next earnings report on Thursday, August 5th.

On average, analysts expect that Abiomed will report full-year sales of $1.01 billion for the current financial year, with estimates ranging from $1.00 billion to $1.02 billion. For the next financial year, analysts anticipate that the company will post sales of $1.15 billion, with estimates ranging from $1.11 billion to $1.22 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Abiomed.

Abiomed (NASDAQ:ABMD) last issued its quarterly earnings results on Wednesday, April 28th. The medical equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.14. Abiomed had a return on equity of 15.34% and a net margin of 25.89%. The firm had revenue of $241.30 million during the quarter, compared to analyst estimates of $231.13 million. During the same period last year, the company earned $0.70 EPS. Abiomed’s quarterly revenue was up 16.8% compared to the same quarter last year.

ABMD has been the subject of a number of research analyst reports. 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 report on Friday, January 29th. TheStreet raised Abiomed from a “c+” rating to a “b-” rating in a research report on Friday, January 15th. Piper Sandler lifted their target price on Abiomed from $350.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, January 28th. Finally, Morgan Stanley lifted their target price on Abiomed from $238.00 to $245.00 and gave the company an “underweight” rating in a research report on Friday, January 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $348.33.

Hedge funds have recently made changes to their positions in the stock. Retirement Systems of Alabama grew its stake in Abiomed by 12.0% during the 4th quarter. Retirement Systems of Alabama now owns 43,742 shares of the medical equipment provider’s stock worth $14,181,000 after buying an additional 4,703 shares during the last quarter. EFG Asset Management Americas Corp. grew its stake in Abiomed by 9.7% during the 1st quarter. EFG Asset Management Americas Corp. now owns 883 shares of the medical equipment provider’s stock worth $281,000 after buying an additional 78 shares during the last quarter. Barclays PLC grew its stake in Abiomed by 58.8% during the 4th quarter. Barclays PLC now owns 41,174 shares of the medical equipment provider’s stock worth $13,349,000 after buying an additional 15,251 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Abiomed during the 4th quarter worth $391,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Abiomed during the 4th quarter worth $1,352,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Shares of ABMD stock traded down $3.64 on Tuesday, reaching $305.00. 250,414 shares of the company’s stock were exchanged, compared to its average volume of 314,209. Abiomed has a 52 week low of $180.29 and a 52 week high of $387.40. The stock has a market capitalization of $13.80 billion, a PE ratio of 67.03, a P/E/G ratio of 4.15 and a beta of 1.41. The company’s fifty day simple moving average is $321.28 and its 200 day simple moving average is $305.92.

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 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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