ABIOMED (ABMD) Releases Quarterly Earnings Results

ABIOMED (NASDAQ:ABMD) released its quarterly earnings results on Thursday. The medical equipment provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.36, MarketWatch Earnings reports. ABIOMED had a return on equity of 18.91% and a net margin of 25.71%. The firm had revenue of $181.78 million for the quarter, compared to analysts’ expectations of $175.41 million. During the same quarter last year, the firm posted $0.54 EPS. The company’s revenue was up 36.9% compared to the same quarter last year. ABIOMED updated its FY 2019 guidance to EPS.

Shares of NASDAQ ABMD traded up $16.27 during trading hours on Thursday, reaching $357.47. 605,304 shares of the stock traded hands, compared to its average volume of 670,815. The stock has a market cap of $14.86 billion, a price-to-earnings ratio of 145.91, a P/E/G ratio of 3.54 and a beta of 0.03. ABIOMED has a 52-week low of $180.12 and a 52-week high of $459.75.

Several analysts have weighed in on ABMD shares. ValuEngine cut ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 18th. BidaskClub cut ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research raised ABIOMED from a “hold” rating to a “buy” rating and set a $457.00 price target on the stock in a report on Tuesday, July 10th. Finally, Morgan Stanley raised their price objective on ABIOMED from $370.00 to $396.00 and gave the company an “equal weight” rating in a report on Thursday, October 11th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. ABIOMED currently has a consensus rating of “Buy” and an average target price of $384.38.

In related news, VP Michael G. Howley sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $432.50, for a total transaction of $4,325,000.00. Following the transaction, the vice president now directly owns 48,954 shares of the company’s stock, valued at approximately $21,172,605. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew J. Greenfield sold 4,440 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $395.00, for a total value of $1,753,800.00. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. grew its position in shares of ABIOMED by 1.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 9,139 shares of the medical equipment provider’s stock worth $3,738,000 after buying an additional 146 shares during the last quarter. World Asset Management Inc grew its position in shares of ABIOMED by 5.2% in the 3rd quarter. World Asset Management Inc now owns 2,976 shares of the medical equipment provider’s stock worth $1,338,000 after buying an additional 146 shares during the last quarter. Wealthsource Partners LLC grew its position in shares of ABIOMED by 24.6% in the 2nd quarter. Wealthsource Partners LLC now owns 887 shares of the medical equipment provider’s stock worth $363,000 after buying an additional 175 shares during the last quarter. Advisor Partners LLC grew its position in shares of ABIOMED by 26.4% in the 2nd quarter. Advisor Partners LLC now owns 1,057 shares of the medical equipment provider’s stock worth $432,000 after buying an additional 221 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC grew its position in shares of ABIOMED by 9.7% in the 2nd quarter. Balasa Dinverno & Foltz LLC now owns 2,647 shares of the medical equipment provider’s stock worth $1,083,000 after buying an additional 235 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: Bond

Earnings History for ABIOMED (NASDAQ:ABMD)

Receive News & Ratings for ABIOMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABIOMED and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply