ABIOMED (NASDAQ:ABMD) was upgraded by BTIG Research from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat reports. The firm currently has a $450.00 price target on the medical equipment provider’s stock. BTIG Research’s target price suggests a potential upside of 17.15% from the stock’s previous close.
ABMD has been the subject of several other research reports. ValuEngine cut shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. BidaskClub cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Zacks Investment Research raised shares of ABIOMED from a “hold” rating to a “buy” rating and set a $457.00 price target for the company in a research report on Tuesday, July 10th. Finally, Morgan Stanley upped their price target on shares of ABIOMED from $370.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 11th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $391.67.
Shares of ABMD stock opened at $384.13 on Friday. The stock has a market capitalization of $17.24 billion, a price-to-earnings ratio of 156.79, a P/E/G ratio of 4.09 and a beta of 0.35. ABIOMED has a one year low of $186.72 and a one year high of $459.75.
ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.36. The business had revenue of $181.78 million for the quarter, compared to the consensus estimate of $175.41 million. ABIOMED had a net margin of 27.60% and a return on equity of 20.09%. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. On average, sell-side analysts anticipate that ABIOMED will post 3.49 earnings per share for the current fiscal year.
In other news, VP Andrew J. Greenfield sold 4,440 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $395.00, for a total value of $1,753,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael G. Howley sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 48,954 shares of the company’s stock, valued at approximately $21,172,605. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. NEXT Financial Group Inc purchased a new stake in ABIOMED during the third quarter valued at approximately $115,000. TRUE Private Wealth Advisors purchased a new stake in ABIOMED during the third quarter valued at approximately $162,000. Cerebellum GP LLC purchased a new stake in ABIOMED during the second quarter valued at approximately $151,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in ABIOMED during the second quarter valued at approximately $164,000. Finally, Rampart Investment Management Company LLC purchased a new stake in ABIOMED during the second quarter valued at approximately $175,000. 86.86% of the stock is owned by hedge funds and other institutional investors.
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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