ABIOMED (ABMD) Rating Increased to Buy at ValuEngine

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ABIOMED (NASDAQ:ABMD) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday.

ABMD has been the topic of several other reports. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “buy” rating and set a $370.00 price objective on the stock in a research report on Friday, January 18th. Morgan Stanley cut their price objective on shares of ABIOMED from $496.00 to $461.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 2nd. Finally, BidaskClub downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Nine equities research analysts have rated the stock with a buy rating, ABIOMED has an average rating of “Buy” and an average price target of $413.71.

ABIOMED stock opened at $361.50 on Tuesday. ABIOMED has a 1 year low of $236.66 and a 1 year high of $459.75. The stock has a market capitalization of $16.14 billion, a PE ratio of 147.55, a price-to-earnings-growth ratio of 3.41 and a beta of 0.38.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, January 31st. The medical equipment provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The firm had revenue of $200.56 million for the quarter, compared to the consensus estimate of $200.60 million. ABIOMED had a net margin of 30.12% and a return on equity of 20.31%. On average, research analysts anticipate that ABIOMED will post 3.61 earnings per share for the current year.

In other ABIOMED news, COO David M. Weber sold 24,000 shares of the business’s stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $351.47, for a total transaction of $8,435,280.00. Following the sale, the chief operating officer now directly owns 161,842 shares in the company, valued at approximately $56,882,607.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin P. Sutter sold 5,985 shares of the business’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $349.49, for a total transaction of $2,091,697.65. Following the sale, the director now owns 212,943 shares in the company, valued at $74,421,449.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,928 shares of company stock worth $17,512,612. 3.50% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. RMB Capital Management LLC raised its position in shares of ABIOMED by 1.6% during the 4th quarter. RMB Capital Management LLC now owns 13,061 shares of the medical equipment provider’s stock worth $4,245,000 after buying an additional 203 shares in the last quarter. Thoroughbred Financial Services LLC bought a new stake in shares of ABIOMED during the 4th quarter worth about $342,000. American International Group Inc. raised its position in shares of ABIOMED by 8.0% during the 4th quarter. American International Group Inc. now owns 17,054 shares of the medical equipment provider’s stock worth $5,543,000 after buying an additional 1,256 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ABIOMED by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 606,848 shares of the medical equipment provider’s stock worth $196,924,000 after buying an additional 32,418 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of ABIOMED by 1,187.5% during the 4th quarter. Captrust Financial Advisors now owns 103 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 95 shares in the last quarter. Institutional investors own 95.25% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ABIOMED (NASDAQ:ABMD)

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