ABIOMED, Inc. (NASDAQ:ABMD) has received an average rating of “Buy” from the nine research firms that are currently covering the stock. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $115.59.
A number of equities analysts have recently commented on the stock. Leerink Swann reaffirmed an “outperform” rating and set a $125.00 price objective on shares of ABIOMED in a report on Wednesday, September 28th. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “buy” rating and set a $138.00 target price for the company in a research report on Friday, September 16th. Finally, Jefferies Group increased their target price on shares of ABIOMED from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th.
In other news, CEO Michael R. Minogue sold 58,710 shares of ABIOMED stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $127.00, for a total transaction of $7,456,170.00. Following the completion of the sale, the chief executive officer now owns 215,782 shares in the company, valued at approximately $27,404,314. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael R. Minogue sold 5,034 shares of ABIOMED stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $127.07, for a total transaction of $639,670.38. Following the sale, the chief executive officer now owns 215,782 shares of the company’s stock, valued at approximately $27,419,418.74. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. 1832 Asset Management L.P. acquired a new stake in shares of ABIOMED during the first quarter valued at approximately $121,655,000. Norges Bank purchased a new position in ABIOMED during the fourth quarter valued at $46,385,000. State Street Corp raised its position in ABIOMED by 56.3% in the first quarter. State Street Corp now owns 1,316,168 shares of the company’s stock valued at $124,787,000 after buying an additional 474,209 shares during the last quarter. Columbia Wanger Asset Management LLC raised its position in ABIOMED by 182.4% in the second quarter. Columbia Wanger Asset Management LLC now owns 388,958 shares of the company’s stock valued at $42,509,000 after buying an additional 251,241 shares during the last quarter. Finally, Sectoral Asset Management Inc. raised its position in ABIOMED by 456.6% in the second quarter. Sectoral Asset Management Inc. now owns 298,338 shares of the company’s stock valued at $32,605,000 after buying an additional 244,738 shares during the last quarter. Institutional investors own 93.65% of the company’s stock.
ABIOMED (NASDAQ:ABMD) traded down 1.46% during mid-day trading on Monday, reaching $126.70. 172,165 shares of the company traded hands. ABIOMED has a one year low of $67.81 and a one year high of $131.16. The firm has a market cap of $5.42 billion, a PE ratio of 134.79 and a beta of 0.75. The stock’s 50-day moving average price is $121.96 and its 200-day moving average price is $107.97.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The company earned $103 million during the quarter, compared to the consensus estimate of $97.23 million. ABIOMED had a net margin of 11.75% and a return on equity of 11.86%. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS. Analysts forecast that ABIOMED will post $1.17 earnings per share for the current fiscal year.
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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