ABIOMED (NASDAQ:ABMD) Lowered to Sell at BidaskClub

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

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of ABIOMED from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. ValuEngine lowered shares of ABIOMED from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. BTIG Research reiterated a “buy” rating on shares of ABIOMED in a research report on Tuesday, May 7th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $340.00 target price on shares of ABIOMED in a research report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating and four have given a buy rating to the company. ABIOMED has a consensus rating of “Hold” and an average target price of $398.40.

ABMD opened at $256.47 on Monday. ABIOMED has a fifty-two week low of $228.00 and a fifty-two week high of $459.75. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 71.24, a PEG ratio of 1.99 and a beta of 0.40.

ABIOMED (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.53. ABIOMED had a net margin of 33.66% and a return on equity of 20.32%. The company had revenue of $207.08 million during the quarter, compared to analysts’ expectations of $218.88 million. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, equities research analysts expect that ABIOMED will post 4.5 EPS for the current fiscal year.

In other news, Director Martin P. Sutter sold 4,664 shares of ABIOMED 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 sale, the director now owns 192,550 shares in the company, valued at $50,057,223.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.50% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Marathon Capital Management boosted its position in ABIOMED by 4.0% during the fourth quarter. Marathon Capital Management now owns 780 shares of the medical equipment provider’s stock worth $253,000 after acquiring an additional 30 shares during the last quarter. Bbva Compass Bancshares Inc. boosted its position in ABIOMED by 3.7% during the fourth quarter. Bbva Compass Bancshares Inc. now owns 1,417 shares of the medical equipment provider’s stock worth $461,000 after acquiring an additional 50 shares during the last quarter. Equitable Trust Co. boosted its position in ABIOMED by 2.1% during the fourth quarter. Equitable Trust Co. now owns 2,450 shares of the medical equipment provider’s stock worth $796,000 after acquiring an additional 50 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its position in ABIOMED by 1.4% during the first quarter. Piedmont Investment Advisors Inc. now owns 3,805 shares of the medical equipment provider’s stock worth $1,087,000 after acquiring an additional 51 shares during the last quarter. Finally, Chartwell Investment Partners LLC boosted its position in ABIOMED by 5.0% during the first quarter. Chartwell Investment Partners LLC now owns 1,324 shares of the medical equipment provider’s stock worth $378,000 after acquiring an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 87.09% of the company’s stock.

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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