Abiomed (NASDAQ:ABMD) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Abiomed (NASDAQ:ABMDGet Rating) posted its earnings results on Thursday. The medical equipment provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.09 by $0.07, MarketWatch Earnings reports. Abiomed had a return on equity of 15.19% and a net margin of 13.26%. The firm had revenue of $269.50 million for the quarter, compared to analysts’ expectations of $267.67 million. During the same period last year, the firm earned $1.24 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year.

Abiomed stock traded down $0.64 during trading hours on Friday, hitting $286.58. The stock had a trading volume of 444,745 shares, compared to its average volume of 247,324. The company has a 50-day moving average of $307.45 and a two-hundred day moving average of $320.15. The company has a market cap of $13.05 billion, a PE ratio of 96.82, a price-to-earnings-growth ratio of 3.01 and a beta of 1.33. Abiomed has a fifty-two week low of $261.27 and a fifty-two week high of $379.30.

In other news, CFO Todd A. Trapp sold 1,000 shares of the stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $333.00, for a total value of $333,000.00. Following the completion of the transaction, the chief financial officer now directly owns 13,063 shares of the company’s stock, valued at approximately $4,349,979. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO David M. Weber sold 300 shares of the stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $300.25, for a total value of $90,075.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,912 shares of company stock valued at $5,804,526. Insiders own 3.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Weiss Multi Strategy Advisers LLC raised its stake in shares of Abiomed by 7.6% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 11,984 shares of the medical equipment provider’s stock valued at $4,304,000 after purchasing an additional 846 shares during the period. Forum Financial Management LP bought a new position in shares of Abiomed in the 4th quarter valued at about $204,000. Toroso Investments LLC grew its holdings in Abiomed by 15.1% during the fourth quarter. Toroso Investments LLC now owns 2,528 shares of the medical equipment provider’s stock worth $908,000 after purchasing an additional 331 shares during the period. Carroll Investors Inc bought a new stake in shares of Abiomed during the fourth quarter worth approximately $46,000. Finally, Deutsche Bank AG boosted its holdings in shares of Abiomed by 7.5% during the fourth quarter. Deutsche Bank AG now owns 181,335 shares of the medical equipment provider’s stock worth $65,131,000 after acquiring an additional 12,703 shares during the period. 91.91% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on the company. Wolfe Research assumed coverage on Abiomed in a research report on Tuesday, April 5th. They set a “market perform” rating and a $330.00 price target on the stock. SVB Leerink decreased their target price on Abiomed from $345.00 to $325.00 and set a “market perform” rating on the stock in a report on Friday, February 4th. Morgan Stanley decreased their target price on Abiomed from $292.00 to $275.00 and set an “underweight” rating on the stock in a report on Friday, February 4th. Finally, StockNews.com began coverage on Abiomed in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Abiomed has an average rating of “Hold” and a consensus price target of $341.80.

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.

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Earnings History for Abiomed (NASDAQ:ABMD)

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