ABIOMED, Inc. (NASDAQ:ABMD) has been given an average rating of “Buy” by the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $363.14.

A number of research analysts recently weighed in on ABMD shares. Jefferies Financial Group lifted their price objective on shares of ABIOMED to $460.00 and gave the company a “buy” rating in a research note on Tuesday, May 29th. BidaskClub lowered shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Piper Jaffray Companies lifted their price objective on shares of ABIOMED from $360.00 to $480.00 and gave the company an “overweight” rating in a research note on Friday, June 22nd. Zacks Investment Research lowered shares of ABIOMED from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, ValuEngine lowered shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 18th.

Shares of ABMD stock traded up $4.78 during trading hours on Tuesday, hitting $411.36. 474,200 shares of the company were exchanged, compared to its average volume of 628,324. ABIOMED has a 52-week low of $148.80 and a 52-week high of $450.93. The firm has a market cap of $18.25 billion, a P/E ratio of 167.96, a PEG ratio of 4.36 and a beta of -0.08.

ABIOMED (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, July 26th. The medical equipment provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $1.15. ABIOMED had a net margin of 25.71% and a return on equity of 18.91%. The business had revenue of $180.01 million during the quarter, compared to analyst estimates of $173.87 million. During the same period in the previous year, the business earned $0.82 EPS. ABIOMED’s revenue was up 35.9% compared to the same quarter last year. equities research analysts anticipate that ABIOMED will post 3.45 earnings per share for the current fiscal year.

In other news, COO David M. Weber sold 19,282 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $356.77, for a total transaction of $6,879,239.14. Following the completion of the transaction, the chief operating officer now directly owns 167,124 shares in the company, valued at approximately $59,624,829.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew J. Greenfield sold 4,440 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $395.00, for a total transaction of $1,753,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 175,222 shares of company stock valued at $75,382,784 over the last 90 days. Company insiders own 3.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in shares of ABIOMED during the 2nd quarter valued at $151,000. Harvest Fund Management Co. Ltd purchased a new position in shares of ABIOMED during the 1st quarter valued at $108,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of ABIOMED during the 2nd quarter valued at $164,000. Rampart Investment Management Company LLC purchased a new position in shares of ABIOMED during the 2nd quarter valued at $175,000. Finally, NewSquare Capital LLC purchased a new position in shares of ABIOMED during the 2nd quarter valued at $186,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

ABIOMED Company Profile

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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