Leerink Swann reaffirmed their outperform rating on shares of Abiomed Inc. (NASDAQ:ABMD) in a research report released on Wednesday morning. Leerink Swann currently has a $125.00 price objective on the stock.
Several other research analysts also recently weighed in on the company. Jefferies Group reiterated a buy rating and issued a $125.00 target price on shares of Abiomed in a research note on Friday, June 10th. Zacks Investment Research upgraded Abiomed from a hold rating to a buy rating and set a $138.00 target price on the stock in a research note on Friday, September 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Abiomed presently has a consensus rating of Buy and an average price target of $115.59.
Abiomed (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. The company had revenue of $103 million for the quarter, compared to analyst estimates of $97.23 million. Abiomed had a return on equity of 11.86% and a net margin of 11.75%. The firm’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share.
In other Abiomed news, CEO Michael R. Minogue sold 58,710 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $127.00, for a total transaction of $7,456,170.00. Following the sale, the chief executive officer now directly owns 215,782 shares in the company, valued at $27,404,314. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael R. Minogue sold 28,039 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $127.07, for a total value of $3,562,915.73. Following the sale, the chief executive officer now owns 215,488 shares in the company, valued at $27,382,060.16. The disclosure for this sale can be found here. 10.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Cypress Capital Management LLC WY purchased a new stake in Abiomed during the second quarter worth approximately $106,000. Bessemer Group Inc. increased its stake in Abiomed by 94.3% in the first quarter. Bessemer Group Inc. now owns 1,226 shares of the company’s stock worth $116,000 after buying an additional 595 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Abiomed by 28.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,243 shares of the company’s stock worth $136,000 after buying an additional 278 shares during the last quarter. Affinity Wealth Management purchased a new stake in Abiomed during the first quarter worth approximately $200,000. Finally, Advisor Group Inc. purchased a new stake in Abiomed during the second quarter worth approximately $204,000. Institutional investors own 93.65% of the company’s stock.
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