Abiomed Inc. (ABMD) Given “Outperform” Rating at Leerink Swann
Leerink Swann restated their outperform rating on shares of Abiomed Inc. (NASDAQ:ABMD) in a research report released on Wednesday morning. The brokerage currently has a $125.00 target price on the stock.
ABMD has been the subject of a number of other reports. Zacks Investment Research raised Abiomed from a hold rating to a buy rating and set a $138.00 target price for the company in a research note on Friday, September 16th. Jefferies Group restated a buy rating and issued a $125.00 price target on shares of Abiomed in a report on Friday, June 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $115.59.
Shares of Abiomed (NASDAQ:ABMD) opened at 129.89 on Wednesday. The company has a 50-day moving average price of $121.69 and a 200 day moving average price of $107.53. The stock has a market capitalization of $5.56 billion, a P/E ratio of 138.18 and a beta of 0.89. Abiomed has a 52 week low of $67.81 and a 52 week high of $131.11.
Abiomed (NASDAQ:ABMD) last posted its earnings results on Thursday, July 28th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Abiomed had a return on equity of 11.86% and a net margin of 11.75%. The firm earned $103 million during the quarter, compared to analysts’ expectations of $97.23 million. During the same period in the previous year, the firm earned $0.20 earnings per share. The company’s revenue was up 40.3% on a year-over-year basis. Analysts forecast that Abiomed will post $1.17 earnings per share for the current fiscal year.
In related news, CEO Michael R. Minogue sold 5,034 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $127.07, for a total transaction of $639,670.38. Following the sale, the chief executive officer now owns 215,782 shares of the company’s stock, valued at $27,419,418.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henri A. Termeer sold 25,866 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $118.70, for a total value of $3,070,294.20. Following the sale, the director now directly owns 325,778 shares in the company, valued at approximately $38,669,848.60. The disclosure for this sale can be found here. 10.00% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of Abiomed by 56.3% in the first quarter. State Street Corp now owns 1,316,168 shares of the company’s stock worth $124,787,000 after buying an additional 474,209 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Abiomed by 2.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,160,974 shares of the company’s stock worth $126,883,000 after buying an additional 23,236 shares in the last quarter. 1832 Asset Management L.P. increased its stake in shares of Abiomed by 40.3% in the second quarter. 1832 Asset Management L.P. now owns 1,122,900 shares of the company’s stock worth $201,891,000 after buying an additional 322,600 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Abiomed by 21.8% in the second quarter. Lord Abbett & CO. LLC now owns 829,341 shares of the company’s stock worth $90,639,000 after buying an additional 148,400 shares in the last quarter. Finally, Brown Capital Management LLC increased its stake in shares of Abiomed by 29.5% in the second quarter. Brown Capital Management LLC now owns 593,959 shares of the company’s stock worth $64,914,000 after buying an additional 135,436 shares in the last quarter. 93.65% of the stock is currently owned by institutional investors and hedge funds.
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