Piper Sandler reissued their buy rating on shares of ABIOMED (NASDAQ:ABMD) in a research report released on Monday morning, TipRanks reports. The firm currently has a $240.00 price objective on the medical equipment provider’s stock.

Several other research firms also recently weighed in on ABMD. BTIG Research assumed coverage on ABIOMED in a research report on Thursday, February 6th. They set a hold rating on the stock. Morgan Stanley downgraded ABIOMED from an equal weight rating to an underweight rating and reduced their target price for the stock from $198.00 to $165.00 in a research report on Tuesday, February 11th. Stephens reduced their target price on ABIOMED from $240.00 to $155.00 and set an overweight rating on the stock in a research report on Monday. ValuEngine upgraded ABIOMED from a buy rating to a strong-buy rating in a research report on Monday, March 9th. Finally, BidaskClub upgraded ABIOMED from a sell rating to a hold rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $241.83.

Shares of NASDAQ:ABMD opened at $146.89 on Monday. ABIOMED has a 52-week low of $119.01 and a 52-week high of $316.01. The stock’s fifty day simple moving average is $157.94 and its 200-day simple moving average is $178.06. The company has a market capitalization of $5.96 billion, a P/E ratio of 27.61, a P/E/G ratio of 1.53 and a beta of 0.60.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $1.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.42. ABIOMED had a return on equity of 19.53% and a net margin of 29.14%. The business had revenue of $221.60 million for the quarter, compared to the consensus estimate of $226.92 million. During the same period in the prior year, the business earned $0.97 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. Sell-side analysts forecast that ABIOMED will post 4.12 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its stake in ABIOMED by 107.1% during the fourth quarter. Quadrant Capital Group LLC now owns 261 shares of the medical equipment provider’s stock worth $43,000 after acquiring an additional 135 shares during the last quarter. Nuveen Asset Management LLC increased its stake in ABIOMED by 1.1% during the fourth quarter. Nuveen Asset Management LLC now owns 159,453 shares of the medical equipment provider’s stock worth $27,202,000 after acquiring an additional 1,767 shares during the last quarter. RMR Wealth Builders acquired a new stake in ABIOMED during the fourth quarter worth about $117,000. Norges Bank acquired a new stake in ABIOMED during the fourth quarter worth about $92,358,000. Finally, Macquarie Group Ltd. increased its stake in ABIOMED by 57.8% during the fourth quarter. Macquarie Group Ltd. now owns 63,209 shares of the medical equipment provider’s stock worth $10,783,000 after acquiring an additional 23,164 shares during the last quarter. Hedge funds and other institutional investors own 98.17% of the company’s stock.

About ABIOMED

ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.

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Analyst Recommendations for ABIOMED (NASDAQ:ABMD)

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