ABIOMED’s (ABMD) Buy Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of ABIOMED, Inc. (NASDAQ:ABMD) in a research report sent to investors on Tuesday morning. They currently have a $175.00 target price on the medical equipment provider’s stock.
ABMD has been the topic of several other reports. William Blair reissued an outperform rating on shares of ABIOMED in a research note on Thursday, June 8th. Zacks Investment Research raised shares of ABIOMED from a hold rating to a strong-buy rating and set a $163.00 price target on the stock in a research note on Thursday, July 13th. BidaskClub downgraded shares of ABIOMED from a strong-buy rating to a buy rating in a research note on Wednesday, June 28th. Piper Jaffray Companies set a $145.00 price target on shares of ABIOMED in a research note on Tuesday, July 4th. Finally, Morgan Stanley reissued an equal weight rating and set a $140.00 price target (up from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $158.29.
Shares of ABIOMED (ABMD) opened at 150.80 on Tuesday. The firm’s 50-day moving average is $149.03 and its 200-day moving average is $135.05. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 88.19 and a beta of 0.20. ABIOMED has a 12-month low of $95.14 and a 12-month high of $157.41.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, topping the consensus estimate 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 revenue was up 28.6% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. On average, equities analysts predict that ABIOMED will post $2.24 EPS for the current year.
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In other news, COO David M. Weber sold 16,500 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $18,471,760.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric A. Md Rose sold 23,018 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $151.09, for a total transaction of $3,477,789.62. Following the completion of the transaction, the director now owns 24,652 shares in the company, valued at approximately $3,724,670.68. The disclosure for this sale can be found here. Insiders sold 49,518 shares of company stock worth $7,460,785 in the last 90 days. Company insiders own 7.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ABMD. Huntington National Bank purchased a new position in shares of ABIOMED during the second quarter valued at about $100,000. Seven Eight Capital LP purchased a new position in shares of ABIOMED during the second quarter valued at about $100,000. Creative Planning boosted its position in shares of ABIOMED by 16.4% in the first quarter. Creative Planning now owns 916 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 129 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of ABIOMED during the first quarter valued at about $200,000. Finally, Palladium Partners LLC purchased a new position in shares of ABIOMED during the first quarter valued at about $211,000. Hedge funds and other institutional investors own 89.84% 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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