ABIOMED (ABMD) Posts Earnings Results, Beats Expectations By $0.53 EPS

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ABIOMED (NASDAQ:ABMD) issued its quarterly earnings results on Thursday. The medical equipment provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.53, MarketWatch Earnings reports. The company had revenue of $207.08 million during the quarter, compared to analyst estimates of $218.88 million. ABIOMED had a net margin of 30.12% and a return on equity of 20.31%. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. ABIOMED updated its FY 2020 guidance to EPS.

NASDAQ ABMD opened at $267.05 on Friday. ABIOMED has a 12 month low of $228.00 and a 12 month high of $459.75. The company has a market capitalization of $12.51 billion, a P/E ratio of 109.00, a price-to-earnings-growth ratio of 2.03 and a beta of 0.29.

In other news, Director Martin P. Sutter sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $360.00, for a total transaction of $1,800,000.00. Following the sale, the director now owns 195,491 shares in the company, valued at $70,376,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin P. Sutter sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $360.16, for a total transaction of $7,203,200.00. Following the sale, the director now owns 195,491 shares in the company, valued at approximately $70,408,038.56. The disclosure for this sale can be found here. Insiders sold a total of 50,928 shares of company stock worth $18,080,532 over the last quarter. Insiders own 3.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in ABIOMED in the 4th quarter valued at approximately $158,786,000. Baillie Gifford & Co. grew its position in ABIOMED by 32.8% in the fourth quarter. Baillie Gifford & Co. now owns 1,068,859 shares of the medical equipment provider’s stock worth $347,422,000 after acquiring an additional 264,252 shares in the last quarter. Vanguard Group Inc grew its position in ABIOMED by 5.9% in the third quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock worth $2,090,091,000 after acquiring an additional 260,829 shares in the last quarter. 1832 Asset Management L.P. grew its position in ABIOMED by 74.2% in the fourth quarter. 1832 Asset Management L.P. now owns 333,300 shares of the medical equipment provider’s stock worth $106,483,000 after acquiring an additional 141,927 shares in the last quarter. Finally, AGF Investments Inc. bought a new stake in ABIOMED in the fourth quarter worth approximately $34,914,000. Institutional investors and hedge funds own 88.01% of the company’s stock.

A number of analysts recently commented on ABMD shares. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “buy” rating and set a $311.00 target price on the stock in a report on Tuesday, April 2nd. ValuEngine upgraded shares of ABIOMED from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. BidaskClub upgraded shares of ABIOMED from a “hold” rating to a “buy” rating in a report on Saturday, February 9th. BTIG Research reiterated a “buy” rating and issued a $400.00 target price on shares of ABIOMED in a report on Tuesday, January 22nd. They noted that the move was a valuation call. Finally, SunTrust Banks reiterated a “buy” rating and issued a $340.00 target price on shares of ABIOMED in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $408.67.

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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 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 for ABIOMED (NASDAQ:ABMD)

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