ABIOMED, Inc. (ABMD) Sets New 1-Year High at $159.98
Shares of ABIOMED, Inc. (NASDAQ:ABMD) hit a new 52-week high on Thursday . The stock traded as high as $159.98 and last traded at $0.00, with a volume of shares trading hands.
ABMD has been the subject of several analyst reports. BidaskClub upgraded ABIOMED from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. William Blair reiterated an “outperform” rating on shares of ABIOMED in a research report on Thursday, June 8th. Jefferies Group LLC boosted their price objective on ABIOMED from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Piper Jaffray Companies reiterated an “overweight” rating and set a $160.00 price objective (up from $145.00) on shares of ABIOMED in a research report on Thursday, July 27th. Finally, Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $158.29.
The firm has a 50 day moving average price of $152.81 and a 200-day moving average price of $138.79. The stock has a market capitalization of $7.05 billion, a PE ratio of 93.44 and a beta of 0.22.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. The business had revenue of $132.47 million for the quarter, compared to analysts’ expectations of $130.83 million. During the same period in the prior year, the firm earned $0.29 earnings per share. ABIOMED’s revenue was up 28.6% compared to the same quarter last year. Analysts predict that ABIOMED, Inc. will post $2.24 EPS for the current fiscal year.
In other ABIOMED news, Director Eric A. Md Rose sold 982 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $145.17, for a total value of $142,556.94. Following the sale, the director now directly owns 13,634 shares in the company, valued at $1,979,247.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO David M. Weber sold 16,500 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $147.63, for a total transaction of $2,435,895.00. Following the completion of the sale, the chief operating officer now owns 125,122 shares in the company, valued at $18,471,760.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,500 shares of company stock worth $7,603,342. Company insiders own 7.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ABMD. Huntington National Bank acquired a new stake in shares of ABIOMED during the second quarter worth $100,000. Seven Eight Capital LP acquired a new stake in shares of ABIOMED during the second quarter worth $100,000. Virginia Retirement Systems ET AL acquired a new stake in shares of ABIOMED during the first quarter worth $200,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ABIOMED by 15.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock worth $217,000 after acquiring an additional 197 shares during the period. Finally, Private Bank & Trust Co. acquired a new stake in shares of ABIOMED during the second quarter worth $226,000. Institutional investors own 89.69% of the company’s stock.
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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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