ABIOMED, Inc. (NASDAQ:ABMD) Stock Rating Lowered by BidaskClub
BidaskClub lowered shares of ABIOMED, Inc. (NASDAQ:ABMD) from a buy rating to a hold rating in a research report report published on Tuesday.
Several other research firms also recently commented on ABMD. Zacks Investment Research raised ABIOMED from a hold rating to a strong-buy rating and set a $163.00 price objective for the company in a research note on Thursday, July 13th. Piper Jaffray Companies set a $145.00 price objective on ABIOMED in a research note on Tuesday, July 4th. William Blair reissued an outperform rating on shares of ABIOMED in a research note on Thursday, June 8th. Morgan Stanley reissued an equal weight rating and issued a $140.00 price objective (up from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. Finally, Leerink Swann increased their price objective on ABIOMED from $140.00 to $150.00 and gave the company an outperform rating in a research note on Thursday, March 30th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. ABIOMED currently has an average rating of Buy and an average target price of $154.00.
ABIOMED (NASDAQ ABMD) traded up 2.29% on Tuesday, hitting $146.25. 375,370 shares of the company were exchanged. The stock has a market capitalization of $6.45 billion, a P/E ratio of 85.53 and a beta of 0.20. The stock’s 50-day moving average price is $143.37 and its 200-day moving average price is $128.14. ABIOMED has a 52-week low of $95.14 and a 52-week high of $147.54.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data 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 return on equity of 13.03% and a net margin of 16.13%. The firm had revenue of $132.47 million during the quarter, compared to the consensus estimate of $130.83 million. During the same period in the prior year, the company earned $0.29 EPS. The firm’s revenue was up 28.6% compared to the same quarter last year. On average, equities research analysts anticipate that ABIOMED will post $1.81 earnings per share for the current fiscal year.
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In other ABIOMED news, VP Michael G. Howley sold 600 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $132.84, for a total value of $79,704.00. Following the completion of the sale, the vice president now directly owns 48,305 shares of the company’s stock, valued at approximately $6,416,836.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael G. Howley sold 18,279 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $133.56, for a total value of $2,441,343.24. Following the completion of the sale, the vice president now directly owns 62,105 shares of the company’s stock, valued at $8,294,743.80. The disclosure for this sale can be found here. Insiders sold a total of 53,629 shares of company stock valued at $7,072,580 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of ABIOMED by 10,945.5% in the first quarter. BlackRock Inc. now owns 3,270,245 shares of the medical equipment provider’s stock worth $409,433,000 after buying an additional 3,240,638 shares during the period. Palo Alto Investors LLC boosted its position in ABIOMED by 0.9% in the first quarter. Palo Alto Investors LLC now owns 1,921,484 shares of the medical equipment provider’s stock worth $240,570,000 after buying an additional 17,900 shares in the last quarter. Baillie Gifford & Co. boosted its position in ABIOMED by 184.3% in the first quarter. Baillie Gifford & Co. now owns 1,672,435 shares of the medical equipment provider’s stock worth $209,389,000 after buying an additional 1,084,264 shares in the last quarter. William Blair Investment Management LLC boosted its position in ABIOMED by 8.9% in the first quarter. William Blair Investment Management LLC now owns 1,121,017 shares of the medical equipment provider’s stock worth $140,351,000 after buying an additional 91,651 shares in the last quarter. Finally, State Street Corp boosted its position in ABIOMED by 2.0% in the first quarter. State Street Corp now owns 1,047,258 shares of the medical equipment provider’s stock worth $131,116,000 after buying an additional 20,221 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.
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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