Wall Street brokerages forecast that ABIOMED, Inc. (NASDAQ:ABMD) will post $210.58 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for ABIOMED’s earnings, with the highest sales estimate coming in at $210.80 million and the lowest estimate coming in at $210.30 million. ABIOMED reported sales of $180.01 million in the same quarter last year, which indicates a positive year-over-year growth rate of 17%. The business is expected to announce its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that ABIOMED will report full-year sales of $925.30 million for the current financial year, with estimates ranging from $919.80 million to $943.41 million. For the next financial year, analysts anticipate that the business will report sales of $1.13 billion, with estimates ranging from $1.10 billion to $1.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for ABIOMED.

ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.53. ABIOMED had a net margin of 33.66% and a return on equity of 20.32%. The firm had revenue of $207.08 million for the quarter, compared to analyst estimates of $218.88 million. During the same quarter last year, the business posted $0.80 earnings per share. The company’s quarterly revenue was up 18.7% on a year-over-year basis.

ABMD has been the subject of several analyst reports. Zacks Investment Research downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. BidaskClub downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Finally, ValuEngine raised shares of ABIOMED from a “hold” rating to a “buy” rating in a research note on Tuesday, February 12th. Three equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $408.67.

In related news, Director Martin P. Sutter sold 4,664 shares of ABIOMED stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $259.97, for a total transaction of $1,212,500.08. Following the completion of the transaction, the director now owns 192,550 shares of the company’s stock, valued at $50,057,223.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ABMD. Sontag Advisory LLC bought a new position in ABIOMED during the fourth quarter worth $25,000. We Are One Seven LLC bought a new position in ABIOMED during the fourth quarter worth $26,000. Bremer Bank National Association bought a new position in ABIOMED during the first quarter worth $27,000. Cornerstone Advisors Inc. raised its stake in ABIOMED by 304.8% during the fourth quarter. Cornerstone Advisors Inc. now owns 85 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 64 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. raised its stake in ABIOMED by 319.0% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 88 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 67 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Shares of ABMD stock traded up $7.75 during trading hours on Friday, hitting $270.39. 695,300 shares of the company’s stock traded hands, compared to its average volume of 672,795. The company has a market capitalization of $11.87 billion, a P/E ratio of 75.11, a PEG ratio of 2.03 and a beta of 0.29. ABIOMED has a 12 month low of $228.00 and a 12 month high of $459.75.

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 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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