ABIOMED, Inc. (NASDAQ:ABMD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Over the last six months, Abiomed has been trading above the broader industry. Management expects that robust demand for the Impella product line will continue to drive Abiomed’s top line. The company’s expanding product portfolio will improve penetration into both the prophylactic high-risk PCI and cardiogenic shock patient market. This is evident from the fact that both Impella 2.5 and CP continue to add centers in the U.S. The company also announced the successful launch of the Abiomed Impella Quality Program in fiscal 2017 to improve clinical outcomes. Also, cost-savings efforts remain encouraging. Furthermore, a rising estimate revision trend for the current year indicates a pocket of opportunity for the stock. However, intensifying competition in the niche markets is likely to mar prospects over the long haul.”

ABMD has been the subject of several other reports. Jefferies Group LLC lifted their target price on ABIOMED from $175.00 to $208.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $160.00 target price on shares of ABIOMED in a research report on Tuesday, August 29th. BidaskClub downgraded ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. SunTrust Banks, Inc. assumed coverage on ABIOMED in a research report on Friday, September 29th. They issued a “buy” rating and a $195.00 target price for the company. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $140.00 target price (up from $135.00) on shares of ABIOMED in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $167.00.

ABIOMED (NASDAQ ABMD) traded down 1.04% during mid-day trading on Tuesday, reaching $172.18. 293,859 shares of the company were exchanged. ABIOMED has a 1-year low of $95.14 and a 1-year high of $175.72. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 100.69 and a beta of 0.26. The stock’s 50-day moving average price is $159.10 and its 200-day moving average price is $143.65.

ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $132.47 million during the quarter, compared to the consensus estimate of $130.83 million. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. ABIOMED’s revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. On average, equities research analysts anticipate that ABIOMED will post $2.24 EPS for the current fiscal year.

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In other news, COO David M. Weber sold 16,500 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $147.63, for a total transaction of $2,435,895.00. Following the completion of the transaction, the chief operating officer now directly owns 125,122 shares of the company’s stock, valued at $18,471,760.86. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Andrew J. Greenfield sold 11,282 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $169.32, for a total value of $1,910,268.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,782 shares of company stock valued at $9,513,610. Corporate insiders own 7.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Huntington National Bank acquired a new position in shares of ABIOMED during the second quarter worth about $100,000. Seven Eight Capital LP acquired a new position in shares of ABIOMED during the second quarter worth about $100,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ABIOMED by 15.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock worth $217,000 after buying an additional 197 shares in the last quarter. Private Bank & Trust Co. acquired a new position in shares of ABIOMED during the second quarter worth about $226,000. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of ABIOMED during the first quarter worth about $200,000. 89.69% of the stock is owned by institutional investors and hedge funds.

About ABIOMED

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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Analyst Recommendations for ABIOMED (NASDAQ:ABMD)

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