Brokerages Set Abiomed, Inc. (NASDAQ:ABMD) Target Price at $350.50

Abiomed, Inc. (NASDAQ:ABMD – Get Rating) has been given an average recommendation of “Hold” by the eight analysts that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $350.50.

A number of research analysts recently commented on the stock. William Blair lowered shares of Abiomed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 1st. Mizuho started coverage on shares of Abiomed in a research note on Wednesday, October 12th. They issued a “buy” rating and a $300.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered shares of Abiomed from a “buy” rating to a “hold” rating and raised their price objective for the stock from $355.00 to $388.00 in a research note on Wednesday, November 2nd. Piper Sandler lowered shares of Abiomed from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $350.00 to $380.00 in a research note on Tuesday, November 1st. Finally, StockNews.com initiated coverage on shares of Abiomed in a research note on Thursday, January 19th. They set a “hold” rating for the company.

Insider Activity

In other news, VP Marc A. Began sold 2,000 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $373.71, for a total transaction of $747,420.00. Following the transaction, the vice president now owns 13,785 shares in the company, valued at approximately $5,151,592.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Marc A. Began sold 2,000 shares of Abiomed stock in a transaction on Friday, November 4th. The shares were sold at an average price of $373.71, for a total value of $747,420.00. Following the transaction, the vice president now owns 13,785 shares in the company, valued at approximately $5,151,592.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Matthew T. Plano sold 3,544 shares of Abiomed stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $378.61, for a total transaction of $1,341,793.84. Following the completion of the transaction, the vice president now owns 10,270 shares in the company, valued at approximately $3,888,324.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,544 shares of company stock worth $2,468,594. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Abiomed by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,269,340 shares of the medical equipment provider’s stock worth $1,294,467,000 after purchasing an additional 287,915 shares during the period. BlackRock Inc. increased its holdings in shares of Abiomed by 0.7% during the 3rd quarter. BlackRock Inc. now owns 4,560,483 shares of the medical equipment provider’s stock worth $1,120,329,000 after purchasing an additional 30,854 shares during the period. State Street Corp increased its holdings in shares of Abiomed by 3.5% during the 2nd quarter. State Street Corp now owns 2,086,770 shares of the medical equipment provider’s stock worth $516,496,000 after purchasing an additional 70,134 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Abiomed by 2.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,446,523 shares of the medical equipment provider’s stock worth $358,029,000 after purchasing an additional 32,323 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Abiomed by 1.9% during the 3rd quarter. Alliancebernstein L.P. now owns 1,202,638 shares of the medical equipment provider’s stock worth $295,440,000 after purchasing an additional 22,726 shares during the period. Institutional investors own 94.48% of the company’s stock.

Abiomed Price Performance

ABMD stock opened at $381.02 on Friday. The company has a market cap of $17.18 billion, a price-to-earnings ratio of 65.47, a PEG ratio of 3.33 and a beta of 1.40. The business has a fifty day simple moving average of $379.77 and a 200-day simple moving average of $315.12. Abiomed has a 52 week low of $219.85 and a 52 week high of $381.99.

Abiomed (NASDAQ:ABMD – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The medical equipment provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.05 by $0.25. Abiomed had a net margin of 24.84% and a return on equity of 14.77%. The business had revenue of $265.92 million for the quarter, compared to analysts’ expectations of $273.30 million. As a group, analysts expect that Abiomed will post 4.58 earnings per share for the current fiscal year.

Abiomed Company Profile

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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 a continuum of care to heart failure patients. The company offers Impella 2.5, a percutaneous micro heart pump with integrated motor and sensors; and Impella CP, a device for use by interventional cardiologists to support patients in the cath lab, as well as by cardiac surgeons in the heart surgery suite.