BidaskClub upgraded shares of ABIOMED (NASDAQ:ABMD) from a sell rating to a hold rating in a research note issued to investors on Tuesday, BidAskClub reports.
A number of other brokerages have also recently issued reports on ABMD. ValuEngine raised shares of ABIOMED from a hold rating to a buy rating in a report on Tuesday, February 12th. Zacks Investment Research cut shares of ABIOMED from a buy rating to a hold rating in a report on Tuesday, March 19th. BTIG Research reaffirmed a buy rating on shares of ABIOMED in a report on Tuesday, May 7th. Finally, SunTrust Banks reaffirmed a buy rating and issued a $340.00 target price on shares of ABIOMED in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. ABIOMED has an average rating of Hold and a consensus target price of $398.40.
Shares of ABMD stock opened at $255.53 on Tuesday. The stock has a market capitalization of $11.53 billion, a PE ratio of 70.98, a PEG ratio of 2.08 and a beta of 0.39. ABIOMED has a 52-week low of $228.00 and a 52-week high of $459.75.
ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.53. The company had revenue of $207.08 million for the quarter, compared to analysts’ expectations of $218.88 million. ABIOMED had a net margin of 33.66% and a return on equity of 20.32%. ABIOMED’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. On average, analysts predict that ABIOMED will post 4.5 earnings per share for the current year.
In other ABIOMED news, Director Martin P. Sutter sold 4,664 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $259.97, for a total value of $1,212,500.08. Following the transaction, the director now directly owns 192,550 shares of the company’s stock, valued at approximately $50,057,223.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in ABMD. Norges Bank bought a new position in ABIOMED in the 4th quarter valued at about $158,786,000. Amundi Pioneer Asset Management Inc. raised its holdings in ABIOMED by 305.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 634,445 shares of the medical equipment provider’s stock valued at $181,190,000 after acquiring an additional 477,989 shares during the period. Baillie Gifford & Co. raised its holdings in ABIOMED by 32.8% in the 4th quarter. Baillie Gifford & Co. now owns 1,068,859 shares of the medical equipment provider’s stock valued at $347,422,000 after acquiring an additional 264,252 shares during the period. Vanguard Group Inc raised its holdings in ABIOMED by 5.9% in the 3rd quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock valued at $2,090,091,000 after acquiring an additional 260,829 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in ABIOMED by 330.0% in the 1st quarter. Artisan Partners Limited Partnership now owns 334,891 shares of the medical equipment provider’s stock valued at $95,642,000 after acquiring an additional 257,009 shares during the period. 87.13% of the stock is currently 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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