ABIOMED, Inc. (ABMD) Receives $199.60 Average PT from Brokerages

ABIOMED, Inc. (NASDAQ:ABMD) has earned an average rating of “Buy” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $199.60.

A number of equities analysts recently commented on ABMD shares. Zacks Investment Research lowered ABIOMED from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. BTIG Research lowered ABIOMED from a “buy” rating to a “neutral” rating in a research note on Monday, October 16th. Piper Jaffray Companies raised their price objective on ABIOMED to $200.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Jefferies Group raised their price objective on ABIOMED from $208.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $200.00 price objective (up from $180.00) on shares of ABIOMED in a research note on Thursday, October 12th.

In other news, VP Michael G. Howley sold 10,000 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $178.64, for a total value of $1,786,400.00. Following the sale, the vice president now directly owns 56,757 shares in the company, valued at $10,139,070.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dorothy E. Puhy sold 6,364 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $179.08, for a total value of $1,139,665.12. Following the completion of the sale, the director now owns 39,532 shares in the company, valued at $7,079,390.56. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ABMD. Koch Industries Inc. raised its holdings in shares of ABIOMED by 40,431.3% in the second quarter. Koch Industries Inc. now owns 799,277 shares of the medical equipment provider’s stock worth $794,000 after buying an additional 797,305 shares during the period. Janus Henderson Group PLC raised its holdings in shares of ABIOMED by 102.0% in the third quarter. Janus Henderson Group PLC now owns 1,076,829 shares of the medical equipment provider’s stock worth $181,553,000 after buying an additional 543,793 shares during the period. Wells Fargo & Company MN raised its holdings in shares of ABIOMED by 2,219.4% in the third quarter. Wells Fargo & Company MN now owns 364,427 shares of the medical equipment provider’s stock worth $61,443,000 after buying an additional 348,715 shares during the period. American Century Companies Inc. raised its holdings in shares of ABIOMED by 99.8% in the third quarter. American Century Companies Inc. now owns 484,142 shares of the medical equipment provider’s stock worth $81,626,000 after buying an additional 241,868 shares during the period. Finally, FMR LLC purchased a new stake in shares of ABIOMED in the second quarter worth approximately $32,609,000. Hedge funds and other institutional investors own 90.75% of the company’s stock.

Shares of ABIOMED (NASDAQ ABMD) traded up $1.76 during trading on Monday, reaching $225.89. The company had a trading volume of 332,510 shares, compared to its average volume of 271,724. ABIOMED has a 52 week low of $103.53 and a 52 week high of $228.08. The company has a market capitalization of $9,990.00, a price-to-earnings ratio of 111.28, a PEG ratio of 2.88 and a beta of 0.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.20 and a current ratio of 5.84.

ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 EPS for the quarter, beating 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 company had revenue of $132.80 million during the quarter, compared to analyst estimates of $131.18 million. During the same period in the prior year, the company earned $0.20 earnings per share. The firm’s revenue was up 28.9% on a year-over-year basis. sell-side analysts predict that ABIOMED will post 2.41 earnings per share for the current year.

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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.

Analyst Recommendations for ABIOMED (NASDAQ:ABMD)

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