ABIOMED (NASDAQ:ABMD) had its price objective increased by Leerink Swann from $200.00 to $265.00 in a research note published on Friday. Leerink Swann currently has an outperform rating on the medical equipment provider’s stock.
ABMD has been the topic of several other research reports. Zacks Investment Research raised ABIOMED from a hold rating to a buy rating and set a $220.00 price objective on the stock in a research note on Tuesday, November 7th. BidaskClub raised ABIOMED from a hold rating to a buy rating in a research note on Thursday, January 11th. Jefferies Group raised their price objective on ABIOMED from $175.00 to $208.00 and gave the stock a buy rating in a research note on Friday, September 29th. Piper Jaffray Companies raised their price objective on ABIOMED to $200.00 and gave the stock an overweight rating in a research note on Thursday, October 26th. 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, six have assigned a buy rating and one has assigned a strong buy rating to the stock. ABIOMED has an average rating of Buy and an average price target of $210.50.
Shares of ABIOMED (NASDAQ:ABMD) traded up $2.40 during trading on Friday, reaching $228.29. The company had a trading volume of 179,201 shares, compared to its average volume of 265,059. The firm has a market cap of $10,200.00, a P/E ratio of 112.46, a PEG ratio of 2.98 and a beta of 0.15. ABIOMED has a twelve month low of $103.53 and a twelve month high of $229.05. 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 issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.16. The business had revenue of $132.80 million for the quarter, compared to the consensus estimate of $131.18 million. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. equities research analysts predict that ABIOMED will post 2.41 EPS for the current fiscal year.
In other ABIOMED news, VP Michael G. Howley sold 10,000 shares of ABIOMED stock in a transaction dated 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 owns 56,757 shares of the company’s stock, valued at approximately $10,139,070.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dorothy E. Puhy sold 6,364 shares of ABIOMED stock in a transaction dated Monday, October 30th. The shares were 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 approximately $7,079,390.56. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ABMD. Schwab Charles Investment Management Inc. raised its stake in shares of ABIOMED by 6.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 120,219 shares of the medical equipment provider’s stock valued at $17,228,000 after purchasing an additional 6,935 shares during the period. JPMorgan Chase & Co. increased its position in shares of ABIOMED by 5.1% in the second quarter. JPMorgan Chase & Co. now owns 14,094 shares of the medical equipment provider’s stock valued at $2,019,000 after acquiring an additional 680 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of ABIOMED in the second quarter valued at about $716,000. Wells Fargo & Company MN increased its position in shares of ABIOMED by 9.0% in the second quarter. Wells Fargo & Company MN now owns 15,712 shares of the medical equipment provider’s stock valued at $2,252,000 after acquiring an additional 1,297 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its position in shares of ABIOMED by 73.3% in the second quarter. Riverhead Capital Management LLC now owns 3,120 shares of the medical equipment provider’s stock valued at $447,000 after acquiring an additional 1,320 shares during the last quarter. 90.75% of the stock is currently owned by hedge funds and other institutional investors.
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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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