ABIOMED, Inc. (ABMD) Given Consensus Recommendation of “Buy” by Analysts
Shares of ABIOMED, Inc. (NASDAQ:ABMD) have earned a consensus rating of “Buy” from the ten analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $157.50.
A number of equities analysts have commented on the stock. BidaskClub raised shares of ABIOMED from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. William Blair restated an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. Jefferies Group LLC boosted their price objective on shares of ABIOMED from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Piper Jaffray Companies restated an “overweight” rating and issued a $160.00 price objective (up from $145.00) on shares of ABIOMED in a report on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Monday, August 7th.
ABIOMED (NASDAQ ABMD) opened at 153.70 on Friday. ABIOMED has a 52 week low of $95.14 and a 52 week high of $157.41. The company has a market cap of $6.75 billion, a P/E ratio of 89.88 and a beta of 0.20. The company has a 50-day moving average of $146.89 and a 200 day moving average of $131.99.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.03. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. The business had revenue of $132.47 million during the quarter, compared to analysts’ expectations of $130.83 million. During the same quarter in the previous year, the company earned $0.29 EPS. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. On average, equities analysts forecast that ABIOMED will post $2.24 EPS for the current fiscal year.
In other news, COO David M. Weber sold 16,500 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $147.63, for a total value of $2,435,895.00. Following the completion of the sale, the chief operating officer now directly owns 125,122 shares in the company, valued at approximately $18,471,760.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Thomas sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $154.71, for a total transaction of $1,547,100.00. Following the completion of the sale, the director now owns 12,172 shares of the company’s stock, valued at $1,883,130.12. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its stake in ABIOMED by 8.2% in the first quarter. Advisors Asset Management Inc. now owns 21,777 shares of the medical equipment provider’s stock worth $2,726,000 after buying an additional 1,651 shares in the last quarter. State Treasurer State of Michigan raised its stake in ABIOMED by 1.9% in the first quarter. State Treasurer State of Michigan now owns 16,500 shares of the medical equipment provider’s stock worth $2,066,000 after buying an additional 300 shares in the last quarter. Shaker Investments LLC OH purchased a new stake in ABIOMED during the first quarter worth approximately $2,198,000. Great West Life Assurance Co. Can raised its stake in ABIOMED by 4.9% in the first quarter. Great West Life Assurance Co. Can now owns 23,951 shares of the medical equipment provider’s stock worth $2,997,000 after buying an additional 1,126 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in ABIOMED during the first quarter worth approximately $12,939,000. Institutional investors own 91.09% of the company’s stock.
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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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