ABIOMED, Inc. (ABMD) Sets New 1-Year High at $177.11

ABIOMED, Inc. (NASDAQ:ABMD) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $177.11 and last traded at $177.18, with a volume of 90,898 shares changing hands. The stock had previously closed at $174.62.

A number of research analysts have issued reports on the company. BTIG Research cut ABIOMED from a “buy” rating to a “neutral” rating in a report on Monday, October 16th. Leerink Swann reissued an “outperform” rating and set a $200.00 price objective (up from $180.00) on shares of ABIOMED in a report on Thursday, October 12th. Zacks Investment Research cut ABIOMED from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. SunTrust Banks, Inc. assumed coverage on ABIOMED in a report on Friday, September 29th. They set a “buy” rating and a $195.00 price objective for the company. Finally, Jefferies Group LLC lifted their price objective on ABIOMED from $175.00 to $208.00 and gave the company a “buy” rating in a report on Friday, September 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $173.25.

The stock has a 50-day moving average of $165.46 and a 200-day moving average of $147.17. The company has a market capitalization of $7.79 billion, a P/E ratio of 103.34 and a beta of 0.27.

ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The business had revenue of $132.47 million during the quarter, compared to analysts’ expectations of $130.83 million. During the same quarter last year, the firm posted $0.29 earnings per share. The firm’s revenue was up 28.6% on a year-over-year basis. Equities research analysts predict that ABIOMED, Inc. will post $2.24 earnings per share for the current fiscal year.

In related news, VP Andrew J. Greenfield sold 11,282 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Eric A. Md Rose sold 982 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $145.17, for a total value of $142,556.94. Following the sale, the director now directly owns 13,634 shares of the company’s stock, valued at approximately $1,979,247.78. The disclosure for this sale can be found here. Insiders have sold 61,782 shares of company stock valued at $9,513,610 in the last ninety days. 7.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its stake in ABIOMED by 45.3% during the third quarter. First Trust Advisors LP now owns 116,867 shares of the medical equipment provider’s stock worth $19,704,000 after purchasing an additional 36,408 shares during the period. Nationwide Fund Advisors grew its stake in ABIOMED by 8.0% during the third quarter. Nationwide Fund Advisors now owns 452,879 shares of the medical equipment provider’s stock worth $76,355,000 after purchasing an additional 33,621 shares during the period. Strs Ohio grew its stake in ABIOMED by 309.8% during the third quarter. Strs Ohio now owns 142,879 shares of the medical equipment provider’s stock worth $24,089,000 after purchasing an additional 108,012 shares during the period. LS Investment Advisors LLC grew its stake in ABIOMED by 9.8% during the third quarter. LS Investment Advisors LLC now owns 4,874 shares of the medical equipment provider’s stock worth $822,000 after purchasing an additional 437 shares during the period. Finally, Oakbrook Investments LLC grew its stake in ABIOMED by 28.6% during the third quarter. Oakbrook Investments LLC now owns 3,820 shares of the medical equipment provider’s stock worth $644,000 after purchasing an additional 850 shares during the period. 89.49% of the stock is owned by institutional investors and hedge funds.

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About ABIOMED

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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