FY2019 EPS Estimates for ABIOMED, Inc. Lowered by Analyst (ABMD)
ABIOMED, Inc. (NASDAQ:ABMD) – Equities research analysts at Jefferies Group reduced their FY2019 earnings per share estimates for shares of ABIOMED in a report issued on Friday. Jefferies Group analyst R. Denhoy now forecasts that the medical equipment provider will post earnings of $2.51 per share for the year, down from their previous estimate of $2.52. Jefferies Group currently has a “Buy” rating and a $208.00 price target on the stock. Jefferies Group also issued estimates for ABIOMED’s FY2020 earnings at $3.56 EPS.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The business had revenue of $132.47 million during the quarter, compared to analysts’ expectations of $130.83 million. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. ABIOMED’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 earnings per share. TRADEMARK VIOLATION WARNING: This news story was originally posted by Watch List News and is the property of of Watch List News. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.watchlistnews.com/fy2019-eps-estimates-for-abiomed-inc-lowered-by-analyst-abmd/1606059.html.
Several other analysts have also recently issued reports on the stock. Piper Jaffray Companies set a $145.00 target price on shares of ABIOMED in a research note on Tuesday, July 4th. SunTrust Banks, Inc. started coverage on shares of ABIOMED in a report on Friday. They issued a “buy” rating and a $195.00 price target for the company. BidaskClub upgraded shares of ABIOMED from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Morgan Stanley restated an “equal weight” rating and set a $140.00 price target (up from $135.00) on shares of ABIOMED in a research report on Monday, July 10th. Finally, Zacks Investment Research cut shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $167.00.
Shares of ABIOMED (ABMD) traded down 0.64% during midday trading on Monday, reaching $168.78. 334,607 shares of the company’s stock were exchanged. ABIOMED has a 12 month low of $95.14 and a 12 month high of $171.39. The company has a market cap of $7.44 billion, a P/E ratio of 98.70 and a beta of 0.26. The firm has a 50 day moving average price of $155.90 and a 200 day moving average price of $141.52.
In other news, Director Paul Thomas sold 10,000 shares of ABIOMED stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $154.71, for a total transaction of $1,547,100.00. Following the completion of the sale, the director now directly owns 12,172 shares of the company’s stock, valued at approximately $1,883,130.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric A. Md Rose sold 982 shares of ABIOMED stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $145.17, for a total transaction of $142,556.94. Following the sale, the director now directly owns 13,634 shares of the company’s stock, valued at $1,979,247.78. The disclosure for this sale can be found here. In the last three months, insiders sold 50,500 shares of company stock valued at $7,603,342. Corporate insiders own 7.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new position in ABIOMED in the second quarter valued at $588,000. BNP Paribas Arbitrage SA lifted its stake in ABIOMED by 45.3% during the second quarter. BNP Paribas Arbitrage SA now owns 16,206 shares of the medical equipment provider’s stock worth $2,322,000 after purchasing an additional 5,055 shares during the last quarter. Victory Capital Management Inc. lifted its stake in ABIOMED by 21.7% during the second quarter. Victory Capital Management Inc. now owns 9,761 shares of the medical equipment provider’s stock worth $1,399,000 after purchasing an additional 1,738 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in ABIOMED by 16.2% during the second quarter. Eagle Asset Management Inc. now owns 227,467 shares of the medical equipment provider’s stock worth $32,596,000 after purchasing an additional 31,690 shares during the last quarter. Finally, State Treasurer State of Michigan lifted its stake in ABIOMED by 759.4% during the second quarter. State Treasurer State of Michigan now owns 141,800 shares of the medical equipment provider’s stock worth $20,320,000 after purchasing an additional 125,300 shares during the last quarter. Institutional investors own 89.69% of the company’s stock.
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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