Abiomed (ABMD - Free Report) closed at $389.85 in the latest trading session, marking a -0.78% move from the prior day. This move lagged the S&P 500's daily gain of 0.63%. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 0.64%.
Prior to today's trading, shares of the maker of heart devices had lost 1.53% over the past month. This has was narrower than the Medical sector's loss of 3.98% and the S&P 500's loss of 4.95% in that time.
Wall Street will be looking for positivity from ABMD as it approaches its next earnings report date. This is expected to be February 7, 2019. The company is expected to report EPS of $0.94, up 34.29% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $195.44 million, up 26.89% from the prior-year quarter.
ABMD's full-year Zacks Consensus Estimates are calling for earnings of $4.61 per share and revenue of $768.92 million. These results would represent year-over-year changes of +88.16% and +29.5%, respectively.
Any recent changes to analyst estimates for ABMD should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.69% higher. ABMD currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, ABMD is holding a Forward P/E ratio of 85.32. For comparison, its industry has an average Forward P/E of 31.89, which means ABMD is trading at a premium to the group.
We can also see that ABMD currently has a PEG ratio of 3.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.69 based on yesterday's closing prices.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.