ABIOMED, Inc. (NASDAQ:ABMD) was up 1.1% on Friday following a stronger than expected earnings report. The company traded as high as $253.88 and last traded at $250.32. Approximately 236,647 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 325,881 shares. The stock had previously closed at $253.13.
The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.20. The firm had revenue of $154.00 million during the quarter, compared to analysts’ expectations of $154.00 million. ABIOMED had a net margin of 18.27% and a return on equity of 13.89%. ABIOMED’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share.
A number of equities research analysts recently issued reports on ABMD shares. BidaskClub cut shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. BTIG Research cut shares of ABIOMED from a “buy” rating to a “neutral” rating in a report on Monday, October 16th. Jefferies Group upped their price target on shares of ABIOMED to $250.00 and gave the company a “buy” rating in a report on Friday, January 12th. Zacks Investment Research upgraded shares of ABIOMED from a “sell” rating to a “buy” rating and set a $203.00 price target for the company in a report on Monday, October 30th. Finally, Leerink Swann upped their price target on shares of ABIOMED to $300.00 and gave the company an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $263.86.
A number of hedge funds have recently added to or reduced their stakes in ABMD. Crow Point Partners LLC bought a new stake in ABIOMED during the fourth quarter valued at about $120,000. Cerebellum GP LLC bought a new stake in shares of ABIOMED in the fourth quarter valued at about $127,000. SeaCrest Wealth Management LLC bought a new stake in shares of ABIOMED in the fourth quarter valued at about $183,000. Rehmann Capital Advisory Group bought a new stake in shares of ABIOMED in the third quarter valued at about $202,000. Finally, Sigma Planning Corp bought a new stake in shares of ABIOMED in the third quarter valued at about $206,000. Institutional investors own 90.48% of the company’s stock.
The company has a current ratio of 5.84, a quick ratio of 5.20 and a debt-to-equity ratio of 0.02. The company has a market cap of $10,970.00, a P/E ratio of 125.35, a price-to-earnings-growth ratio of 3.10 and a beta of 0.36.
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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.
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