Zacks Research Weighs in on Abiomed, Inc.’s Q3 2023 Earnings (NASDAQ:ABMD)

Abiomed, Inc. (NASDAQ:ABMDGet Rating) – Equities research analysts at Zacks Research reduced their Q3 2023 earnings per share estimates for shares of Abiomed in a report issued on Tuesday, November 22nd. Zacks Research analyst D. Dey now forecasts that the medical equipment provider will post earnings of $0.94 per share for the quarter, down from their previous estimate of $0.99. The consensus estimate for Abiomed’s current full-year earnings is $4.62 per share. Zacks Research also issued estimates for Abiomed’s FY2023 earnings at $4.41 EPS, Q2 2024 earnings at $1.23 EPS and FY2024 earnings at $4.95 EPS.

A number of other equities research analysts have also recently weighed in on ABMD. Morgan Stanley upgraded Abiomed from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $235.00 to $380.00 in a research note on Wednesday, November 2nd. Piper Sandler lowered Abiomed from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $350.00 to $380.00 in a research note on Tuesday, November 1st. William Blair lowered shares of Abiomed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 1st. Mizuho began coverage on Abiomed in a report on Wednesday, October 12th. They set a “buy” rating and a $300.00 price target on the stock. Finally, StockNews.com began coverage on Abiomed in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $350.50.

Abiomed Stock Performance

NASDAQ ABMD opened at $377.78 on Thursday. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 64.91, a PEG ratio of 3.27 and a beta of 1.28. Abiomed has a 52 week low of $219.85 and a 52 week high of $381.99. The stock’s 50 day moving average price is $298.09 and its two-hundred day moving average price is $275.25.

Insider Activity at Abiomed

In other Abiomed news, VP Marc A. Began sold 500 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $255.95, for a total value of $127,975.00. Following the completion of the transaction, the vice president now directly owns 15,785 shares of the company’s stock, valued at approximately $4,040,170.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Abiomed news, VP Marc A. Began sold 2,000 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $373.71, for a total value of $747,420.00. Following the sale, the vice president now owns 13,785 shares in the company, valued at $5,151,592.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Marc A. Began sold 500 shares of Abiomed stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $255.95, for a total value of $127,975.00. Following the completion of the transaction, the vice president now directly owns 15,785 shares of the company’s stock, valued at approximately $4,040,170.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,044 shares of company stock worth $2,596,569. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Abiomed

Institutional investors have recently made changes to their positions in the stock. Toroso Investments LLC increased its holdings in Abiomed by 3.1% during the third quarter. Toroso Investments LLC now owns 2,783 shares of the medical equipment provider’s stock valued at $684,000 after buying an additional 84 shares during the last quarter. Eagle Bay Advisors LLC increased its stake in Abiomed by 244.3% in the 3rd quarter. Eagle Bay Advisors LLC now owns 792 shares of the medical equipment provider’s stock worth $196,000 after acquiring an additional 562 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Abiomed by 3.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 881 shares of the medical equipment provider’s stock worth $217,000 after buying an additional 30 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in Abiomed during the 3rd quarter valued at $9,667,000. Finally, National Pension Service boosted its stake in shares of Abiomed by 552,264.3% during the 3rd quarter. National Pension Service now owns 77,331 shares of the medical equipment provider’s stock worth $19,252,000 after purchasing an additional 77,317 shares during the period. Hedge funds and other institutional investors own 92.96% of the company’s stock.

About Abiomed

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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 and Estimates for Abiomed (NASDAQ:ABMD)

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