ABIOMED (NASDAQ:ABMD) had its target price hoisted by equities research analysts at Morgan Stanley from $204.00 to $259.00 in a research note issued to investors on Friday. The brokerage currently has an “equal weight” rating on the medical equipment provider’s stock. Morgan Stanley’s target price indicates a potential upside of 4.35% from the company’s current price.
Other analysts have also recently issued research reports about the company. Guggenheim reaffirmed a “buy” rating and issued a $280.00 price target on shares of ABIOMED in a research report on Friday. Piper Jaffray Companies reaffirmed a “positive” rating and issued a $300.00 price target (up previously from $220.00) on shares of ABIOMED in a research report on Thursday. BTIG Research reaffirmed a “hold” rating on shares of ABIOMED in a research report on Sunday, October 29th. Jefferies Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of ABIOMED in a research report on Thursday. Finally, Zacks Investment Research cut ABIOMED from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $263.86.
Shares of ABIOMED (ABMD) traded down $4.93 during midday trading on Friday, reaching $248.20. The company’s stock had a trading volume of 426,654 shares, compared to its average volume of 288,812. The company has a quick ratio of 5.20, a current ratio of 5.84 and a debt-to-equity ratio of 0.02. ABIOMED has a 1 year low of $103.53 and a 1 year high of $255.42. The stock has a market capitalization of $10,970.00, a P/E ratio of 125.35, a P/E/G ratio of 3.10 and a beta of 0.36.
Several hedge funds and other institutional investors have recently bought and sold shares of ABMD. Crow Point Partners LLC acquired a new position in shares of ABIOMED during the 4th quarter worth about $120,000. Cerebellum GP LLC acquired a new position in shares of ABIOMED during the 4th quarter worth about $127,000. SeaCrest Wealth Management LLC acquired a new position in shares of ABIOMED during the 4th quarter worth about $183,000. Rehmann Capital Advisory Group acquired a new position in shares of ABIOMED during the 3rd quarter worth about $202,000. Finally, Sigma Planning Corp acquired a new position in shares of ABIOMED during the 3rd quarter worth about $206,000. 90.48% of the stock is owned by institutional investors and hedge funds.
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.
