ABIOMED, Inc. (NASDAQ:ABMD) Upgraded to Buy by BidaskClub
BidaskClub upgraded shares of ABIOMED, Inc. (NASDAQ:ABMD) from a hold rating to a buy rating in a research note released on Thursday morning.
ABMD has been the topic of several other reports. William Blair reissued an outperform rating on shares of ABIOMED in a research note on Thursday, June 8th. Zacks Investment Research raised ABIOMED from a hold rating to a strong-buy rating and set a $163.00 target price on the stock in a research note on Thursday, July 13th. Piper Jaffray Companies set a $145.00 target price on ABIOMED in a research note on Tuesday, July 4th. Jefferies Group LLC boosted their target price on ABIOMED from $165.00 to $175.00 and gave the company a buy rating in a research note on Friday, August 4th. Finally, Morgan Stanley reissued an equal weight rating and set a $140.00 target price (up from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $158.29.
ABIOMED (ABMD) opened at 151.37 on Thursday. The firm’s 50 day moving average price is $145.53 and its 200-day moving average price is $130.74. The company has a market capitalization of $6.64 billion, a PE ratio of 88.52 and a beta of 0.20. ABIOMED has a 12-month low of $95.14 and a 12-month high of $157.41.
ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The firm had revenue of $132.47 million for the quarter, compared to analysts’ expectations of $130.83 million. During the same period in the previous year, the firm earned $0.29 earnings per share. The business’s revenue was up 28.6% compared to the same quarter last year. On average, equities analysts anticipate that ABIOMED will post $2.24 earnings per share for the current fiscal year.
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In other ABIOMED news, COO David M. Weber sold 16,500 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $147.63, for a total value of $2,435,895.00. Following the sale, the chief operating officer now directly owns 125,122 shares of the company’s stock, valued at $18,471,760.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael G. Howley sold 18,279 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $133.56, for a total value of $2,441,343.24. Following the completion of the sale, the vice president now directly owns 62,105 shares in the company, valued at $8,294,743.80. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in ABIOMED by 10,945.5% in the first quarter. BlackRock Inc. now owns 3,270,245 shares of the medical equipment provider’s stock valued at $409,433,000 after buying an additional 3,240,638 shares during the period. Baillie Gifford & Co. increased its stake in ABIOMED by 184.3% in the first quarter. Baillie Gifford & Co. now owns 1,672,435 shares of the medical equipment provider’s stock valued at $209,389,000 after buying an additional 1,084,264 shares during the period. FMR LLC bought a new stake in ABIOMED during the second quarter valued at approximately $32,609,000. Renaissance Technologies LLC increased its stake in ABIOMED by 33.6% in the second quarter. Renaissance Technologies LLC now owns 893,223 shares of the medical equipment provider’s stock valued at $127,999,000 after buying an additional 224,523 shares during the period. Finally, Brown Capital Management LLC increased its stake in ABIOMED by 30.5% in the first quarter. Brown Capital Management LLC now owns 915,700 shares of the medical equipment provider’s stock valued at $114,646,000 after buying an additional 213,889 shares during the period. 91.09% of the stock is currently owned by institutional investors and hedge funds.
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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