ABIOMED, Inc. (NASDAQ:ABMD) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $374.00.
ABMD has been the topic of a number of recent analyst reports. BidaskClub lowered shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “buy” rating and set a $457.00 price objective on the stock in a report on Tuesday, July 10th. ValuEngine lowered shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 18th. Morgan Stanley boosted their price objective on shares of ABIOMED from $370.00 to $396.00 and gave the stock an “equal weight” rating in a report on Thursday, October 11th. Finally, Piper Jaffray Companies boosted their price objective on shares of ABIOMED from $360.00 to $480.00 and gave the stock an “overweight” rating in a report on Friday, June 22nd.
ABIOMED stock traded down $24.21 during trading on Wednesday, reaching $362.42. 850,471 shares of the company’s stock were exchanged, compared to its average volume of 746,499. ABIOMED has a 52-week low of $164.80 and a 52-week high of $459.75. The stock has a market cap of $17.35 billion, a price-to-earnings ratio of 147.93, a price-to-earnings-growth ratio of 4.13 and a beta of 0.03.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, July 26th. The medical equipment provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $1.15. ABIOMED had a net margin of 25.71% and a return on equity of 18.91%. The firm had revenue of $180.01 million during the quarter, compared to analysts’ expectations of $173.87 million. During the same period in the prior year, the company earned $0.82 EPS. The firm’s revenue was up 35.9% on a year-over-year basis. On average, analysts predict that ABIOMED will post 3.46 earnings per share for the current year.
In other ABIOMED news, COO David M. Weber sold 19,282 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $356.77, for a total value of $6,879,239.14. Following the transaction, the chief operating officer now owns 167,124 shares in the company, valued at approximately $59,624,829.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael G. Howley sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $432.50, for a total transaction of $4,325,000.00. Following the completion of the transaction, the vice president now owns 48,954 shares in the company, valued at approximately $21,172,605. The disclosure for this sale can be found here. Insiders sold a total of 33,722 shares of company stock worth $12,958,039 in the last quarter. 3.50% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of ABMD. NEXT Financial Group Inc acquired a new stake in shares of ABIOMED in the 3rd quarter valued at about $115,000. WealthTrust Fairport LLC acquired a new stake in shares of ABIOMED in the 1st quarter valued at about $145,000. Cerebellum GP LLC acquired a new stake in shares of ABIOMED in the 2nd quarter valued at about $151,000. TRUE Private Wealth Advisors acquired a new stake in shares of ABIOMED in the 3rd quarter valued at about $162,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of ABIOMED in the 2nd quarter valued at about $164,000. Institutional investors and hedge funds own 85.97% of the company’s stock.
ABIOMED Company Profile
ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.
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