ABIOMED’s (NASDAQ:ABMD) “Buy” Rating Reiterated at SunTrust Banks, Inc.

ABIOMED, Inc. (NASDAQ:ABMD)‘s stock had its “buy” rating reiterated by stock analysts at SunTrust Banks, Inc. in a research note issued on Wednesday, November 1st. They presently have a $195.00 price target on the medical equipment provider’s stock. SunTrust Banks, Inc.’s price target would suggest a potential downside of 0.30% from the stock’s current price.

A number of other brokerages have also recently issued reports on ABMD. 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. BTIG Research cut shares of ABIOMED from a “buy” rating to a “neutral” rating in a research note on Monday, October 16th. Zacks Investment Research cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Jefferies Group LLC raised their target price on shares of ABIOMED from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. ABIOMED has an average rating of “Buy” and an average target price of $185.38.

ABIOMED (NASDAQ:ABMD) opened at $195.59 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.84 and a quick ratio of 5.20. ABIOMED has a 52-week low of $103.53 and a 52-week high of $200.00. The firm has a market cap of $8,590.00, a P/E ratio of 124.56, a price-to-earnings-growth ratio of 2.59 and a beta of 0.23.

ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.16. The business had revenue of $132.80 million for the quarter, compared to the consensus estimate of $131.18 million. ABIOMED had a net margin of 18.27% and a return on equity of 13.89%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the firm earned $0.20 earnings per share. sell-side analysts predict that ABIOMED will post 2.38 EPS for the current fiscal year.

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In other news, Director Dorothy E. Puhy sold 6,364 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $179.08, for a total value of $1,139,665.12. Following the completion of the sale, the director now owns 39,532 shares in the company, valued at approximately $7,079,390.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew J. Greenfield sold 11,282 shares of ABIOMED stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $169.32, for a total transaction of $1,910,268.24. The disclosure for this sale can be found here. Insiders sold a total of 51,646 shares of company stock valued at $8,456,680 in the last 90 days. Company insiders own 7.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ABMD. Koch Industries Inc. raised its holdings in shares of ABIOMED by 40,431.3% in the 2nd quarter. Koch Industries Inc. now owns 799,277 shares of the medical equipment provider’s stock valued at $794,000 after purchasing an additional 797,305 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of ABIOMED by 102.0% in the 3rd quarter. Janus Henderson Group PLC now owns 1,076,829 shares of the medical equipment provider’s stock valued at $181,553,000 after purchasing an additional 543,793 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of ABIOMED by 2,219.4% in the 3rd quarter. Wells Fargo & Company MN now owns 364,427 shares of the medical equipment provider’s stock valued at $61,443,000 after purchasing an additional 348,715 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of ABIOMED by 17.9% in the 2nd quarter. Baillie Gifford & Co. now owns 1,971,690 shares of the medical equipment provider’s stock valued at $282,543,000 after purchasing an additional 299,255 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of ABIOMED by 99.8% in the 3rd quarter. American Century Companies Inc. now owns 484,142 shares of the medical equipment provider’s stock valued at $81,626,000 after purchasing an additional 241,868 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.

ABIOMED Company Profile

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.

Analyst Recommendations for ABIOMED (NASDAQ:ABMD)

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