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Biotech / Medical : ABMD - Replacement Heart System
ABMD 183.85-1.5%2:08 PM EST

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From: Lynn9/8/2018 3:36:43 PM
   of 147
 
What Analysts Expect for AbiomedMike Benson

Market Realist
September 5, 2018

Abiomed’s revenues As discussed earlier, Abiomed ( ABMD) reported revenues of $180.0 million in Q1 2019, a 36% increase as compared to revenues of ~$132.5 million in the first quarter of 2018.



The above graph compares the quarterly revenues of Abiomed since the first quarter of 2018.

Q1 2019 performance Abiomed’s top line increased ~35.9% to ~$180.0 million during Q1 2019. The increase was driven by a 37% increase in Impella heart pump sales globally to $173.7 million during Q1 2019 as compared to $127.2 million in the first quarter of 2018.

Impella heart pump sales The revenues for Impella heart pump in the US markets increased by ~32% to $151.7 million during Q1 2019 as compared to $114.7 million in the first quarter of 2018.

The revenues for Impella heart pump outside US markets increased by ~75% to $21.9 million during Q1 2019 as compared to $12.5 million during the first quarter of 2018.

Profitability during Q1 2019 Abiomed reported a decrease in gross profit margin to 82.9% during Q1 2019 as compared to a gross profit margin of 83.5% during the first quarter of 2018. The operating margin increased to 26.0% during Q1 2019 as compared to an operating margin of 25.0% during the first quarter of 2018.

The GAAP net income increased by ~141% to $90.1 million in Q1 2019 as compared to the GAAP net income of $37.4 million during the first quarter of 2018.

The iShares US Healthcare ETF ( IYH) holds 0.5% of its total investments in Abiomed ( ABMD), 1.3% in Boston Scientific ( BSX), 3.4% in Medtronic ( MDT), and 9.4% in Johnson & Johnson ( JNJ).



What Analysts Expect for AbiomedBy Mike Benson
Sep 5, 2018 | 1:20 PM

Wall Street analysts’ estimates Wall Street analysts estimate Abiomed ( ABMD) will report 29.9% growth in revenues to ~$771.0 million in 2019 as compared to $593.7 million in 2018. The earnings per share are expected to be $4.66 in 2019. Analysts estimate the net income margin to increase to 27.3% during 2019 as compared to 18.9% during 2018.



The above chart compares changes in analysts’ recommendations for Abiomed since January 2018.

2019 guidance Abiomed estimates revenues to be between $755 million and $770 million during 2019, a 27% to 30% increase in revenues as compared to 2018. The operating margin is expected to be in the range of 28% to 30% in 2019.

Analyst ratings Abiomed’s stock price has increased by nearly 172.3% in the last 12 months and nearly 119.5% in 2018 year-to-date. Analysts estimate the stock might increase by 9.2% over the next 12 months. Wall Street analysts have a 12-month target price of $449.22 per share as compared to the last price of $411.36 per share as of September 4.

As of September 5, 11 analysts are tracking Abiomed. Of these, five analysts recommend a “strong buy,” four analysts recommend a “buy,” and two analysts recommend a “hold.” None of the analysts recommend a “sell.” The consensus rating for Abiomed stands at 1.73, which represents a “strong buy” for long-term growth investors as well as momentum investors. Changes in analysts’ estimates and recommendations are based on changing trends in stock prices and the performance of the company.

The iShares US Medical Devices ETF ( IHI) holds 2.3% of its total investments in Abiomed ( ABMD), 4.7% in Stryker ( SYK), 4.7% in Boston Scientific ( BSX), and 8.8% in Medtronic ( MDT).



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