Leerink Swann reaffirmed their outperform rating on shares of ABIOMED, Inc. (NASDAQ:ABMD) in a research note released on Thursday morning, The Fly reports. Leerink Swann currently has a $200.00 target price on the medical equipment provider’s stock, up from their prior target price of $180.00.
A number of other equities research analysts have also recently commented on ABMD. BidaskClub cut 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 objective on shares of ABIOMED in a research note on Tuesday, July 4th. Zacks Investment Research cut shares of ABIOMED from a buy rating to a hold rating in a research note on Wednesday, July 5th. 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, Jefferies Group LLC increased their price objective 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $173.25.
ABIOMED (ABMD) opened at 173.85 on Thursday. ABIOMED has a 1-year low of $95.14 and a 1-year high of $175.71. The stock has a 50 day moving average of $161.28 and a 200 day moving average of $144.70. The stock has a market capitalization of $7.67 billion, a P/E ratio of 101.67 and a beta of 0.26.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. The firm had revenue of $132.47 million for the quarter, compared to analysts’ expectations of $130.83 million. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. The firm’s revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 EPS. On average, analysts expect that ABIOMED will post $2.24 earnings per share for the current year.
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In other ABIOMED news, VP Andrew J. Greenfield sold 11,282 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Thomas sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $154.71, for a total transaction of $1,547,100.00. Following the sale, the director now directly owns 12,172 shares in the company, valued at $1,883,130.12. The disclosure for this sale can be found here. Insiders have sold a total of 61,782 shares of company stock worth $9,513,610 over the last ninety days. 7.00% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ABMD. Parametric Portfolio Associates LLC boosted its stake in shares of ABIOMED by 4.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 43,001 shares of the medical equipment provider’s stock worth $5,384,000 after purchasing an additional 1,789 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of ABIOMED by 21.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,221 shares of the medical equipment provider’s stock worth $404,000 after purchasing an additional 558 shares during the last quarter. KBC Group NV acquired a new stake in shares of ABIOMED during the 1st quarter worth about $388,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of ABIOMED during the 1st quarter worth about $244,000. Finally, Stifel Financial Corp boosted its stake in shares of ABIOMED by 4.3% during the 1st quarter. Stifel Financial Corp now owns 3,918 shares of the medical equipment provider’s stock worth $496,000 after purchasing an additional 163 shares during the last quarter. 89.37% of the stock is currently owned by institutional investors.
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.
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