ABIOMED (ABMD) Hits New 12-Month High on Analyst Upgrade

ABIOMED, Inc. (NASDAQ:ABMD)’s share price hit a new 52-week high during trading on Friday after Jefferies Group raised their price target on the stock to $250.00. Jefferies Group currently has a buy rating on the stock. ABIOMED traded as high as $215.95 and last traded at $210.15, with a volume of 215900 shares trading hands. The stock had previously closed at $208.14.

A number of other brokerages also recently commented on ABMD. BidaskClub upgraded ABIOMED from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research raised ABIOMED from a “hold” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Tuesday, November 7th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of ABIOMED in a research note on Thursday, January 4th. SunTrust Banks reaffirmed a “buy” rating and issued a $195.00 price target on shares of ABIOMED in a research note on Wednesday, November 1st. Finally, BTIG Research reaffirmed a “hold” rating on shares of ABIOMED in a research note on Sunday, October 29th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $199.67.

In other news, VP Michael G. Howley sold 10,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $178.64, for a total value of $1,786,400.00. Following the sale, the vice president now directly owns 56,757 shares of the company’s stock, valued at $10,139,070.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dorothy E. Puhy sold 6,364 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $179.08, for a total value of $1,139,665.12. Following the completion of the sale, the director now directly owns 39,532 shares in the company, valued at $7,079,390.56. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABMD. Seven Eight Capital LP purchased a new stake in shares of ABIOMED in the second quarter worth $100,000. Crow Point Partners LLC purchased a new stake in shares of ABIOMED in the fourth quarter worth $120,000. Rehmann Capital Advisory Group purchased a new stake in shares of ABIOMED in the third quarter worth $202,000. Sigma Planning Corp purchased a new stake in shares of ABIOMED in the third quarter worth $206,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new stake in shares of ABIOMED in the third quarter worth $215,000. 90.45% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market capitalization of $9,292.02, a P/E ratio of 105.97, a P/E/G ratio of 2.77 and a beta of 0.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.84 and a quick ratio of 5.20.

ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.16. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The firm had revenue of $132.80 million for the quarter, compared to analysts’ expectations of $131.18 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was up 28.9% on a year-over-year basis. equities analysts forecast that ABIOMED, Inc. will post 2.41 EPS for the current fiscal year.

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About ABIOMED

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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