ABIOMED (NASDAQ:ABMD) Upgraded by BidaskClub to “Hold”

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ABIOMED (NASDAQ:ABMD) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday, BidAskClub reports.

ABMD has been the subject of several other reports. Zacks Investment Research raised shares of ABIOMED from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. BTIG Research reaffirmed a “buy” rating on shares of ABIOMED in a research note on Tuesday, May 7th. ValuEngine downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $340.00 price objective on shares of ABIOMED in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $398.40.

Shares of NASDAQ:ABMD opened at $254.54 on Tuesday. The stock has a market cap of $12.09 billion, a PE ratio of 70.71, a PEG ratio of 2.12 and a beta of 0.40. ABIOMED has a 12 month low of $228.00 and a 12 month high of $459.75.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.07 by $0.53. The firm had revenue of $207.08 million during the quarter, compared to the consensus estimate of $218.88 million. ABIOMED had a net margin of 33.66% and a return on equity of 20.32%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 earnings per share. On average, sell-side analysts predict that ABIOMED will post 4.5 EPS for the current year.

In related news, Director Martin P. Sutter sold 4,664 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $259.97, for a total value of $1,212,500.08. Following the completion of the transaction, the director now directly owns 192,550 shares of the company’s stock, valued at $50,057,223.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Marathon Capital Management raised its stake in ABIOMED by 4.0% in the fourth quarter. Marathon Capital Management now owns 780 shares of the medical equipment provider’s stock worth $253,000 after buying an additional 30 shares in the last quarter. Bbva Compass Bancshares Inc. raised its stake in ABIOMED by 3.7% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 1,417 shares of the medical equipment provider’s stock worth $461,000 after buying an additional 50 shares in the last quarter. Equitable Trust Co. raised its stake in ABIOMED by 2.1% in the fourth quarter. Equitable Trust Co. now owns 2,450 shares of the medical equipment provider’s stock worth $796,000 after buying an additional 50 shares in the last quarter. Piedmont Investment Advisors Inc. raised its stake in ABIOMED by 1.4% in the first quarter. Piedmont Investment Advisors Inc. now owns 3,805 shares of the medical equipment provider’s stock worth $1,087,000 after buying an additional 51 shares in the last quarter. Finally, Chartwell Investment Partners LLC raised its stake in ABIOMED by 5.0% in the first quarter. Chartwell Investment Partners LLC now owns 1,324 shares of the medical equipment provider’s stock worth $378,000 after buying an additional 63 shares in the last quarter. 87.13% of the stock is owned by institutional investors.

ABIOMED Company Profile

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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