Abiomed closed at $386.63 in the latest trading session, marking a -0.81% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.44%. Meanwhile, the Dow lost 1.27%, and the Nasdaq, a tech-heavy index, lost 2.06%.
Heading into today, shares of the maker of heart devices had gained 3.46% over the past month, outpacing the Medical sector's loss of 2.15% and the S&P 500's loss of 2.61% in that time.
Investors will be hoping for strength from ABMD as it approaches its next earnings release, which is expected to be November 1, 2018. On that day, ABMD is projected to report earnings of $0.73 per share, which would represent year-over-year growth of 65.91%. Meanwhile, our latest consensus estimate is calling for revenue of $175.32 million, up 32% from the prior-year quarter.
ABMD's full-year Zacks Consensus Estimates are calling for earnings of $4.63 per share and revenue of $768.18 million. These results would represent year-over-year changes of +88.98% and +29.38%, respectively.
Investors should also note any recent changes to analyst estimates for ABMD. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ABMD is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, ABMD is currently trading at a Forward P/E ratio of 84.11. For comparison, its industry has an average Forward P/E of 33.56, which means ABMD is trading at a premium to the group.
We can also see that ABMD currently has a PEG ratio of 3.12. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Instruments industry currently had an average PEG ratio of 2.8 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Abiomed (ABMD) Stock Moves -0.81%: What You Should Know
Abiomed closed at $386.63 in the latest trading session, marking a -0.81% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.44%. Meanwhile, the Dow lost 1.27%, and the Nasdaq, a tech-heavy index, lost 2.06%.
Heading into today, shares of the maker of heart devices had gained 3.46% over the past month, outpacing the Medical sector's loss of 2.15% and the S&P 500's loss of 2.61% in that time.
Investors will be hoping for strength from ABMD as it approaches its next earnings release, which is expected to be November 1, 2018. On that day, ABMD is projected to report earnings of $0.73 per share, which would represent year-over-year growth of 65.91%. Meanwhile, our latest consensus estimate is calling for revenue of $175.32 million, up 32% from the prior-year quarter.
ABMD's full-year Zacks Consensus Estimates are calling for earnings of $4.63 per share and revenue of $768.18 million. These results would represent year-over-year changes of +88.98% and +29.38%, respectively.
Investors should also note any recent changes to analyst estimates for ABMD. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ABMD is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, ABMD is currently trading at a Forward P/E ratio of 84.11. For comparison, its industry has an average Forward P/E of 33.56, which means ABMD is trading at a premium to the group.
We can also see that ABMD currently has a PEG ratio of 3.12. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Instruments industry currently had an average PEG ratio of 2.8 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.