ABIOMED, Inc. (NASDAQ:ABMD) was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, October 16th, MarketBeat reports.
ABMD has been the subject of several other research reports. BidaskClub lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Piper Jaffray Companies reiterated a “buy” rating and set a $160.00 price objective on shares of ABIOMED in a research note on Tuesday, August 29th. Morgan Stanley reiterated an “equal weight” rating and set a $140.00 price objective (up from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. Jefferies Group LLC boosted their price objective on shares of ABIOMED from $175.00 to $208.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. Finally, SunTrust Banks, Inc. initiated coverage on shares of ABIOMED in a research note on Friday, September 29th. They set a “buy” rating and a $195.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $178.25.
ABIOMED (NASDAQ:ABMD) opened at 181.07 on Monday. The firm’s 50 day moving average price is $166.04 and its 200 day moving average price is $147.35. ABIOMED has a 12 month low of $95.14 and a 12 month high of $183.96. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 105.89 and a beta of 0.27.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. The business had revenue of $132.80 million during the quarter, compared to analyst estimates of $131.18 million. ABIOMED had a net margin of 18.27% and a return on equity of 13.89%. The company’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 earnings per share. On average, equities research analysts predict that ABIOMED will post $2.33 EPS for the current fiscal year.
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In other ABIOMED news, Director Eric A. Md Rose sold 982 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $145.17, for a total transaction of $142,556.94. Following the transaction, the director now directly owns 13,634 shares in the company, valued at approximately $1,979,247.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Thomas sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $154.71, for a total transaction of $1,547,100.00. Following the transaction, the director now owns 12,172 shares in the company, valued at $1,883,130.12. The disclosure for this sale can be found here. Insiders sold 61,782 shares of company stock valued at $9,513,610 over the last 90 days. Insiders own 7.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank bought a new position in ABIOMED during the 2nd quarter valued at $100,000. Seven Eight Capital LP bought a new position in ABIOMED during the 2nd quarter valued at $100,000. Rehmann Capital Advisory Group acquired a new stake in shares of ABIOMED during the third quarter worth $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ABIOMED by 15.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock worth $217,000 after purchasing an additional 197 shares during the period. Finally, Private Bank & Trust Co. acquired a new stake in shares of ABIOMED during the second quarter worth $226,000. Hedge funds and other institutional investors own 89.49% of the company’s stock.
ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.
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