Abiomed, Inc. (NASDAQ:ABMD) Forecasted to Post Q2 2023 Earnings of $1.03 Per Share

Abiomed, Inc. (NASDAQ:ABMDGet Rating) – Equities research analysts at SVB Leerink reduced their Q2 2023 EPS estimates for Abiomed in a research note issued to investors on Thursday, April 28th. SVB Leerink analyst D. Antalffy now anticipates that the medical equipment provider will post earnings per share of $1.03 for the quarter, down from their previous estimate of $1.07. SVB Leerink has a “Market Perform” rating and a $325.00 price target on the stock. SVB Leerink also issued estimates for Abiomed’s Q1 2024 earnings at $1.29 EPS, Q2 2024 earnings at $1.35 EPS, Q3 2024 earnings at $1.42 EPS and Q4 2024 earnings at $1.53 EPS.

Several other brokerages also recently commented on ABMD. Wolfe Research started coverage on shares of Abiomed in a research report on Tuesday, April 5th. They issued a “market perform” rating and a $330.00 price target for the company. Morgan Stanley cut their target price on shares of Abiomed from $292.00 to $275.00 and set an “underweight” rating for the company in a research report on Friday, February 4th. Finally, StockNews.com initiated coverage on shares of Abiomed in a report on Thursday, March 31st. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $341.80.

Shares of NASDAQ:ABMD opened at $286.58 on Monday. The stock has a market capitalization of $13.04 billion, a price-to-earnings ratio of 96.82, a PEG ratio of 3.12 and a beta of 1.33. Abiomed has a 1-year low of $261.27 and a 1-year high of $379.30. The company has a 50 day moving average price of $307.45 and a 200 day moving average price of $319.86.

Abiomed (NASDAQ:ABMDGet Rating) last issued its earnings results on Thursday, April 28th. The medical equipment provider reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.07. The firm had revenue of $269.50 million during the quarter, compared to analysts’ expectations of $267.67 million. Abiomed had a net margin of 13.23% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share.

In related news, CFO Todd A. Trapp sold 1,000 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $333.00, for a total value of $333,000.00. Following the transaction, the chief financial officer now directly owns 13,063 shares in the company, valued at approximately $4,349,979. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO David M. Weber sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $340.00, for a total transaction of $2,550,000.00. Following the completion of the transaction, the chief operating officer now owns 116,314 shares in the company, valued at $39,546,760. The disclosure for this sale can be found here. Insiders have sold a total of 17,912 shares of company stock worth $5,804,526 in the last 90 days. 3.00% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. KRS Capital Management LLC bought a new position in shares of Abiomed during the 4th quarter worth about $26,000. CWM LLC bought a new position in shares of Abiomed during the 4th quarter worth about $29,000. Sageworth Trust Co of South Dakota bought a new position in shares of Abiomed during the 4th quarter worth about $34,000. Ellevest Inc. increased its holdings in shares of Abiomed by 72.9% during the 1st quarter. Ellevest Inc. now owns 102 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 43 shares during the period. Finally, Hall Laurie J Trustee bought a new position in shares of Abiomed during the 4th quarter worth about $36,000. Institutional investors own 91.91% of the company’s stock.

About Abiomed (Get Rating)

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 a continuum of care to heart failure patients. The company offers Impella 2.5, a percutaneous micro heart pump with integrated motor and sensors; and Impella CP, a device for use by interventional cardiologists to support patients in the cath lab, as well as by cardiac surgeons in the heart surgery suite.

Further Reading

Earnings History and Estimates 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.