ABIOMED, Inc. (NASDAQ:ABMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, November 7th. The firm presently has a $220.00 price objective on the medical equipment provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.22% from the company’s previous close.
According to Zacks, “Over the last six months, Abiomed has been trading above the broader industry. Management expects that robust demand for the Impella product line will continue to drive Abiomed’s top line. The company’s expanding product portfolio will improve penetration into both the prophylactic high-risk PCI and cardiogenic shock patient market. This is evident from the fact that both Impella 2.5 and CP continue to add centers in the U.S. The company also announced the successful launch of the Abiomed Impella Quality Program in fiscal 2017 to improve clinical outcomes. Also, cost-savings efforts remain encouraging. Furthermore, a rising estimate revision trend for the current year indicates a pocket of opportunity for the stock. However, intensifying competition in the niche markets is likely to mar prospects over the long haul.”
Other analysts have also issued reports about the company. BidaskClub upgraded ABIOMED from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Jefferies Group LLC boosted their price target on ABIOMED from $175.00 to $208.00 and gave the company a “buy” rating in a report on Friday, September 29th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $195.00 target price on shares of ABIOMED in a report on Wednesday, November 1st. BTIG Research reiterated a “hold” rating on shares of ABIOMED in a report on Sunday, October 29th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $160.00 target price (up previously from $145.00) on shares of ABIOMED in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $185.38.
ABIOMED (ABMD) traded down $0.59 during midday trading on Tuesday, hitting $194.32. The stock had a trading volume of 448,700 shares, compared to its average volume of 337,822. 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 one year low of $103.53 and a one year high of $198.29. The firm has a market cap of $8,590.00, a PE ratio of 124.56, a P/E/G ratio of 2.59 and a beta of 0.23.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.16. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The business had revenue of $132.80 million during the quarter, compared to analysts’ expectations of $131.18 million. During the same period in the previous year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. equities research analysts forecast that ABIOMED will post 2.38 earnings per share for the current year.
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In other ABIOMED news, Director Dorothy E. Puhy sold 6,364 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $179.08, for a total transaction of $1,139,665.12. Following the completion of the sale, the director now directly owns 39,532 shares in the company, valued at $7,079,390.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew J. Greenfield sold 11,282 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $169.32, for a total value of $1,910,268.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,646 shares of company stock valued at $8,456,680. 7.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of ABIOMED by 3.2% in the 2nd quarter. BlackRock Inc. now owns 3,373,655 shares of the medical equipment provider’s stock valued at $483,444,000 after acquiring an additional 103,410 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of ABIOMED by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,317,593 shares of the medical equipment provider’s stock valued at $475,411,000 after acquiring an additional 51,055 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of ABIOMED by 0.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,976,961 shares of the medical equipment provider’s stock valued at $333,316,000 after acquiring an additional 5,271 shares during the last quarter. Palo Alto Investors LLC lifted its stake in shares of ABIOMED by 1.6% in the 2nd quarter. Palo Alto Investors LLC now owns 1,951,284 shares of the medical equipment provider’s stock valued at $279,619,000 after acquiring an additional 29,800 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake 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 acquiring an additional 543,793 shares during 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.
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