Abiomed (NASDAQ:ABMD) Rating Increased to Buy at StockNews.com

Abiomed (NASDAQ:ABMDGet Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Wolfe Research assumed coverage on shares of Abiomed in a research note on Tuesday, April 5th. They issued a “market perform” rating and a $330.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $335.00.

Abiomed stock opened at $248.62 on Wednesday. The company has a market capitalization of $11.33 billion, a P/E ratio of 83.99, a P/E/G ratio of 2.02 and a beta of 1.35. The firm’s fifty day simple moving average is $262.54 and its 200-day simple moving average is $295.71. Abiomed has a 1-year low of $219.85 and a 1-year high of $379.30.

Abiomed (NASDAQ:ABMDGet Rating) last released its quarterly earnings results on Thursday, April 28th. The medical equipment provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. The business had revenue of $269.50 million for the quarter, compared to the consensus estimate of $267.67 million. Abiomed had a net margin of 13.23% and a return on equity of 14.47%. Abiomed’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. As a group, equities research analysts anticipate that Abiomed will post 4.59 EPS for the current year.

In other Abiomed news, CFO Todd A. Trapp sold 1,000 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $333.00, for a total value of $333,000.00. Following the sale, the chief financial officer now directly owns 13,063 shares in the company, valued at approximately $4,349,979. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David M. Weber sold 7,500 shares of Abiomed stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $340.00, for a total transaction of $2,550,000.00. Following the sale, the chief operating officer now owns 116,314 shares in the company, valued at $39,546,760. The disclosure for this sale can be found here. Insiders sold a total of 10,500 shares of company stock worth $3,399,020 over the last 90 days. Company insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. bought a new stake in Abiomed in the first quarter valued at about $25,000. KRS Capital Management LLC bought a new stake in Abiomed during the fourth quarter worth about $26,000. CWM LLC bought a new stake in Abiomed during the fourth quarter worth about $29,000. Sageworth Trust Co of South Dakota bought a new stake in Abiomed during the fourth quarter worth about $34,000. Finally, Ellevest Inc. grew its stake in Abiomed by 72.9% during the first quarter. Ellevest Inc. now owns 102 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 43 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

About Abiomed (Get Rating)

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 a continuum of care to heart failure patients. The company offers Impella 2.5, a percutaneous micro heart pump with integrated motor and sensors; and Impella CP, a device for use by interventional cardiologists to support patients in the cath lab, as well as by cardiac surgeons in the heart surgery suite.

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