BidaskClub upgraded shares of ABIOMED (NASDAQ:ABMD) from a sell rating to a hold rating in a report released on Friday.
ABMD has been the topic of a number of other research reports. Zacks Investment Research raised ABIOMED from a hold rating to a buy rating and set a $370.00 target price on the stock in a research report on Friday, January 18th. ValuEngine lowered ABIOMED from a buy rating to a hold rating in a research report on Wednesday, February 27th. Finally, Morgan Stanley cut their target price on ABIOMED from $496.00 to $461.00 and set an overweight rating on the stock in a research report on Wednesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $421.00.
ABMD opened at $313.22 on Friday. ABIOMED has a one year low of $274.02 and a one year high of $459.75. The company has a market capitalization of $14.21 billion, a P/E ratio of 127.84, a price-to-earnings-growth ratio of 3.26 and a beta of 0.37.
In other news, Director Martin P. Sutter sold 20,000 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $360.16, for a total transaction of $7,203,200.00. Following the sale, the director now owns 195,491 shares of the company’s stock, valued at $70,408,038.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David M. Weber sold 24,000 shares of the company’s stock in a transaction on Friday, January 25th. The stock was sold at an average price of $351.47, for a total value of $8,435,280.00. Following the sale, the chief operating officer now directly owns 161,842 shares in the company, valued at approximately $56,882,607.74. The disclosure for this sale can be found here. Insiders have sold 74,928 shares of company stock worth $26,515,812 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in ABIOMED by 193.5% in the third quarter. AQR Capital Management LLC now owns 1,207,996 shares of the medical equipment provider’s stock valued at $543,297,000 after buying an additional 796,482 shares during the last quarter. Norges Bank purchased a new position in ABIOMED in the fourth quarter valued at $158,786,000. BlackRock Inc. increased its holdings in ABIOMED by 10.3% in the third quarter. BlackRock Inc. now owns 3,117,569 shares of the medical equipment provider’s stock valued at $1,402,127,000 after buying an additional 290,298 shares during the last quarter. Baillie Gifford & Co. increased its holdings in ABIOMED by 32.8% in the fourth quarter. Baillie Gifford & Co. now owns 1,068,859 shares of the medical equipment provider’s stock valued at $347,422,000 after buying an additional 264,252 shares during the last quarter. Finally, Vanguard Group Inc increased its holdings in ABIOMED by 5.9% in the third quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock valued at $2,090,091,000 after buying an additional 260,829 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.
ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.
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