ABIOMED, Inc. (ABMD) Receives Average Rating of “Buy” from Brokerages
Shares of ABIOMED, Inc. (NASDAQ:ABMD) have earned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $151.86.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of ABIOMED from a “hold” rating to a “strong-buy” rating and set a $163.00 price objective for the company in a report on Thursday, July 13th. Piper Jaffray Companies set a $145.00 price objective on shares of ABIOMED in a report on Tuesday, July 4th. William Blair reaffirmed an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. Morgan Stanley reissued an “equal weight” rating and set a $140.00 target price (up previously from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. Finally, BidaskClub cut shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th.
In other ABIOMED news, VP Michael G. Howley sold 600 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $132.84, for a total value of $79,704.00. Following the transaction, the vice president now directly owns 48,305 shares in the company, valued at approximately $6,416,836.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael G. Howley sold 18,279 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $133.56, for a total transaction of $2,441,343.24. Following the completion of the transaction, the vice president now owns 62,105 shares in the company, valued at $8,294,743.80. The disclosure for this sale can be found here. Insiders have sold 53,629 shares of company stock worth $7,072,580 over the last 90 days. 7.00% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC raised its position in shares of ABIOMED by 0.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 6,978 shares of the medical equipment provider’s stock valued at $874,000 after buying an additional 25 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of ABIOMED by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,663 shares of the medical equipment provider’s stock valued at $302,000 after buying an additional 60 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of ABIOMED by 1.1% in the second quarter. Capstone Asset Management Co. now owns 6,410 shares of the medical equipment provider’s stock valued at $919,000 after buying an additional 70 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of ABIOMED by 1.2% in the first quarter. PNC Financial Services Group Inc. now owns 7,842 shares of the medical equipment provider’s stock valued at $982,000 after buying an additional 95 shares in the last quarter. Finally, Texan Capital Management raised its position in shares of ABIOMED by 0.9% in the second quarter. Texan Capital Management now owns 11,779 shares of the medical equipment provider’s stock valued at $1,688,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.
ABIOMED (ABMD) opened at 144.10 on Monday. The company has a market cap of $6.28 billion, a P/E ratio of 123.16 and a beta of 0.20. The firm’s 50 day moving average is $142.73 and its 200 day moving average is $126.90. ABIOMED has a 12-month low of $95.14 and a 12-month high of $147.45.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, May 4th. The medical equipment provider reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. ABIOMED had a net margin of 11.70% and a return on equity of 12.67%. The company had revenue of $124.68 million during the quarter, compared to analysts’ expectations of $122.82 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. Equities research analysts anticipate that ABIOMED will post $1.84 EPS for the current fiscal year.
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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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