Abiomed Inc. (ABMD) Expected to Earn FY2017 Earnings of $1.11 Per Share
Abiomed Inc. (NASDAQ:ABMD) – Research analysts at Leerink Swann decreased their FY2017 earnings per share estimates for shares of Abiomed in a note issued to investors on Tuesday. Leerink Swann analyst D. Antalffy now forecasts that the firm will post earnings per share of $1.11 for the year, down from their prior estimate of $1.12. Leerink Swann currently has a “Outperform” rating and a $125.00 target price on the stock.
Several other analysts have also commented on the stock. Zacks Investment Research raised shares of Abiomed from a “hold” rating to a “buy” rating and set a $138.00 target price for the company in a research note on Friday, September 16th. Jefferies Group increased their target price on shares of Abiomed from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $115.59.
Abiomed (NASDAQ:ABMD) opened at 128.58 on Friday. The company’s 50 day moving average is $121.96 and its 200 day moving average is $107.97. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 136.79 and a beta of 0.89. Abiomed has a 12-month low of $67.81 and a 12-month high of $131.16.
Abiomed (NASDAQ:ABMD) last posted its earnings results on Thursday, July 28th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.06. The business had revenue of $103 million for the quarter, compared to analyst estimates of $97.23 million. Abiomed had a net margin of 11.75% and a return on equity of 11.86%. The business’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 EPS.
In other Abiomed news, Director Dorothy E. Puhy sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $122.31, for a total value of $477,009.00. Following the transaction, the director now owns 33,811 shares in the company, valued at approximately $4,135,423.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Henri A. Termeer sold 25,866 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $118.70, for a total transaction of $3,070,294.20. Following the completion of the transaction, the director now owns 325,778 shares in the company, valued at approximately $38,669,848.60. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Abiomed during the fourth quarter valued at $46,385,000. Glenmede Trust Co. NA raised its position in Abiomed by 1.3% in the first quarter. Glenmede Trust Co. NA now owns 3,737 shares of the company’s stock valued at $353,000 after buying an additional 48 shares in the last quarter. Aperio Group LLC raised its position in Abiomed by 16.0% in the first quarter. Aperio Group LLC now owns 7,245 shares of the company’s stock valued at $687,000 after buying an additional 1,001 shares in the last quarter. Virginia Retirement System bought a new position in Abiomed during the first quarter valued at $303,000. Finally, TIAA CREF Investment Management LLC raised its position in Abiomed by 4.6% in the first quarter. TIAA CREF Investment Management LLC now owns 179,747 shares of the company’s stock valued at $17,042,000 after buying an additional 7,886 shares in the last quarter. Hedge funds and other institutional investors own 93.65% of the company’s stock.
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