ABIOMED (ABMD) Given New $220.00 Price Target at Jefferies Group

ABIOMED (NASDAQ:ABMD) had its target price raised by Jefferies Group from $208.00 to $220.00 in a report released on Thursday. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Jefferies Group’s target price would suggest a potential upside of 13.58% from the company’s current price.

Several other analysts also recently issued reports on the company. BidaskClub downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised ABIOMED from a “hold” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Tuesday, November 7th. SunTrust Banks reissued a “buy” rating and issued a $195.00 price target on shares of ABIOMED in a research note on Wednesday, November 1st. BTIG Research reissued a “hold” rating on shares of ABIOMED in a research note on Sunday, October 29th. Finally, Piper Jaffray Companies lifted their price target on ABIOMED to $200.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $192.14.

Shares of ABIOMED (ABMD) opened at $193.69 on Thursday. The company has a market capitalization of $8,573.07, a price-to-earnings ratio of 124.29, a P/E/G ratio of 2.58 and a beta of 0.15. ABIOMED has a 12 month low of $103.53 and a 12 month high of $200.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.20 and a current ratio of 5.84.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.16. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The business had revenue of $132.80 million for the quarter, compared to the consensus estimate of $131.18 million. During the same quarter last year, the business posted $0.20 EPS. The firm’s revenue was up 28.9% compared to the same quarter last year. analysts expect that ABIOMED will post 2.38 earnings per share for the current fiscal year.

In other news, VP Andrew J. Greenfield sold 11,282 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael G. Howley sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $178.64, for a total value of $1,786,400.00. Following the completion of the transaction, the vice president now owns 56,757 shares of the company’s stock, valued at approximately $10,139,070.48. The disclosure for this sale can be found here. Insiders sold a total of 27,646 shares of company stock worth $4,836,333 in the last three months. Company insiders own 7.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ABMD. Janney Montgomery Scott LLC bought a new position in shares of ABIOMED in the 2nd quarter valued at about $284,000. Schwab Charles Investment Management Inc. grew its holdings in shares of ABIOMED by 6.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 120,219 shares of the medical equipment provider’s stock valued at $17,228,000 after acquiring an additional 6,935 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of ABIOMED by 7.7% in the 2nd quarter. First Trust Advisors LP now owns 80,459 shares of the medical equipment provider’s stock valued at $11,530,000 after acquiring an additional 5,777 shares in the last quarter. Dupont Capital Management Corp grew its holdings in shares of ABIOMED by 57.3% in the 2nd quarter. Dupont Capital Management Corp now owns 6,618 shares of the medical equipment provider’s stock valued at $948,000 after acquiring an additional 2,412 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of ABIOMED by 16.2% in the 2nd quarter. SG Americas Securities LLC now owns 18,168 shares of the medical equipment provider’s stock valued at $2,603,000 after acquiring an additional 2,534 shares in the last quarter. Institutional investors own 90.45% 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.