Brokerages Set Abiomed Inc. (NASDAQ:ABMD) PT at $115.59
Shares of Abiomed Inc. (NASDAQ:ABMD) have earned a consensus rating of “Buy” from the nine research firms that are covering the firm. Two research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $116.59.
Several equities research analysts have issued reports on ABMD shares. Zacks Investment Research cut shares of Abiomed from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Jefferies Group lifted their target price on shares of Abiomed from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $125.00 target price on shares of Abiomed in a research note on Wednesday, September 28th.
Abiomed (NASDAQ:ABMD) opened at 127.45 on Monday. Abiomed has a 1-year low of $67.81 and a 1-year high of $131.16. The company has a 50-day moving average of $122.33 and a 200 day moving average of $109.01. The stock has a market cap of $5.46 billion, a P/E ratio of 135.59 and a beta of 0.75.
Abiomed (NASDAQ:ABMD) last announced its earnings results on Thursday, July 28th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.06. Abiomed had a net margin of 11.75% and a return on equity of 11.86%. The company had revenue of $103 million for the quarter, compared to analysts’ expectations of $97.23 million. During the same quarter in the previous year, the company posted $0.20 EPS. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. Analysts predict that Abiomed will post $1.17 EPS for the current year.
In other Abiomed news, Director Dorothy E. Puhy sold 3,900 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $122.31, for a total transaction of $477,009.00. Following the sale, the director now directly owns 33,811 shares in the company, valued at $4,135,423.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henri A. Termeer sold 25,866 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $118.70, for a total transaction of $3,070,294.20. Following the sale, the director now owns 325,778 shares in the company, valued at $38,669,848.60. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. State Street Corp raised 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 during the period. BlackRock Institutional Trust Company N.A. raised 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 during the period. 1832 Asset Management L.P. raised 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 during the period. Lord Abbett & CO. LLC raised 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 during the period. Finally, Brown Capital Management LLC raised 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 during the period. Institutional investors own 93.65% of the company’s stock.
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.
Receive News & Stock Ratings for Abiomed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abiomed Inc. and related stocks with our FREE daily email newsletter.