ABIOMED, Inc. (ABMD) PT Raised to $200.00

ABIOMED, Inc. (NASDAQ:ABMD) had its price target upped by Piper Jaffray Companies to $200.00 in a research report report published on Thursday, October 26th, The Fly reports. They currently have an overweight rating on the medical equipment provider’s stock.

ABMD has been the subject of several other reports. Jefferies Group LLC lifted their price target on ABIOMED from $175.00 to $208.00 and gave the company a buy rating in a report on Friday, September 29th. Zacks Investment Research upgraded ABIOMED from a hold rating to a strong-buy rating and set a $163.00 price target for the company in a report on Thursday, July 13th. BidaskClub lowered ABIOMED from a strong-buy rating to a buy rating in a report on Wednesday, June 28th. Finally, Leerink Swann restated an outperform rating and issued a $200.00 target price (up from $180.00) on shares of ABIOMED in a report on Thursday, October 12th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. ABIOMED has an average rating of Buy and a consensus target price of $185.38.

ABIOMED (ABMD) traded down $0.33 during trading hours on Thursday, reaching $195.21. The company’s stock had a trading volume of 176,400 shares, compared to its average volume of 391,739. The company has a current ratio of 5.84, a quick ratio of 5.20 and a debt-to-equity ratio of 0.02. ABIOMED has a 52 week low of $103.53 and a 52 week high of $198.29. The stock has a market cap of $8,631.41, a PE ratio of 125.13, a PEG ratio of 2.60 and a beta of 0.23.

ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.16. The company had revenue of $132.80 million for the quarter, compared to analysts’ expectations of $131.18 million. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 EPS. sell-side analysts forecast that ABIOMED will post 2.38 EPS for the current year.

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In other ABIOMED news, Director Eric A. Md Rose sold 982 shares of ABIOMED stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $145.17, for a total value of $142,556.94. Following the transaction, the director now directly owns 13,634 shares of the company’s stock, valued at approximately $1,979,247.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Paul Thomas sold 10,000 shares of ABIOMED stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $154.71, for a total value of $1,547,100.00. Following the completion of the transaction, the director now directly owns 12,172 shares in the company, valued at $1,883,130.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,646 shares of company stock worth $10,003,780. Company insiders own 7.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank bought a new stake in shares of ABIOMED during the second quarter valued at approximately $100,000. Seven Eight Capital LP bought a new stake in shares of ABIOMED during the second quarter valued at approximately $100,000. Rehmann Capital Advisory Group bought a new stake in shares of ABIOMED during the third quarter valued at approximately $202,000. Sigma Planning Corp bought a new stake in shares of ABIOMED during the third quarter valued at approximately $206,000. Finally, CIBC Asset Management Inc bought a new stake in shares of ABIOMED during the third quarter valued at approximately $248,000. Institutional investors and hedge funds own 90.58% of the company’s stock.

ABIOMED Company Profile

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.

The Fly

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