ABIOMED, Inc. (ABMD) Coverage Initiated at SunTrust Banks, Inc.
SunTrust Banks, Inc. started coverage on shares of ABIOMED, Inc. (NASDAQ:ABMD) in a report published on Friday, MarketBeat.com reports. The firm issued a buy rating and a $195.00 price target on the medical equipment provider’s stock.
Other research analysts also recently issued research reports about the company. Morgan Stanley reissued an equal weight rating and issued a $140.00 target price (up previously from $135.00) on shares of ABIOMED in a report on Monday, July 10th. Zacks Investment Research downgraded ABIOMED from a buy rating to a hold rating in a research note on Wednesday, July 5th. BidaskClub downgraded ABIOMED from a buy rating to a hold rating in a research note on Saturday, August 26th. Jefferies Group LLC raised their price objective on shares of ABIOMED from $165.00 to $175.00 and gave the stock a buy rating in a report on Friday, August 4th. Finally, Piper Jaffray Companies reiterated an overweight rating and issued a $160.00 price target (up from $145.00) on shares of ABIOMED in a research report on Thursday, July 27th. Three 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 a consensus target price of $167.00.
Shares of ABIOMED (NASDAQ ABMD) opened at 169.86 on Friday. ABIOMED has a 12-month low of $95.14 and a 12-month high of $171.39. The company has a 50 day moving average of $155.90 and a 200-day moving average of $141.52. The company has a market cap of $7.49 billion, a PE ratio of 99.92 and a beta of 0.26.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The firm had revenue of $132.47 million for the quarter, compared to the consensus estimate of $130.83 million. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS. Equities research analysts anticipate that ABIOMED will post $2.24 earnings per share for the current year.
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In other news, COO David M. Weber sold 16,500 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $147.63, for a total value of $2,435,895.00. Following the transaction, the chief operating officer now owns 125,122 shares of the company’s stock, valued at $18,471,760.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric A. Md Rose sold 982 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $145.17, for a total transaction of $142,556.94. Following the completion of the transaction, the director now directly owns 13,634 shares in the company, valued at approximately $1,979,247.78. The disclosure for this sale can be found here. Insiders sold a total of 50,500 shares of company stock valued at $7,603,342 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of ABIOMED by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,947 shares of the medical equipment provider’s stock worth $852,000 after acquiring an additional 32 shares in the last quarter. BB&T Securities LLC grew its holdings in shares of ABIOMED by 1.0% in the second quarter. BB&T Securities LLC now owns 4,154 shares of the medical equipment provider’s stock valued at $595,000 after purchasing an additional 43 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of ABIOMED by 1.6% in the second quarter. Teacher Retirement System of Texas now owns 3,294 shares of the medical equipment provider’s stock valued at $472,000 after purchasing an additional 51 shares in the last quarter. Capstone Asset Management Co. grew its holdings in shares of ABIOMED by 1.1% in the second quarter. Capstone Asset Management Co. now owns 6,410 shares of the medical equipment provider’s stock valued at $919,000 after purchasing an additional 70 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of ABIOMED by 1.2% in the first quarter. PNC Financial Services Group Inc. now owns 7,842 shares of the medical equipment provider’s stock valued at $982,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 89.69% 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.
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