BidaskClub upgraded shares of ABIOMED (NASDAQ:ABMD) from a hold rating to a buy rating in a research note issued to investors on Saturday.
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. BTIG Research raised ABIOMED from a neutral rating to a buy rating and set a $450.00 target price on the stock in a research report on Friday, November 2nd. Morgan Stanley lowered 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. Finally, ValuEngine downgraded ABIOMED from a buy rating to a hold rating in a research report on Tuesday, November 20th. Nine research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average target price of $413.71.
NASDAQ:ABMD opened at $354.92 on Friday. The stock has a market capitalization of $15.52 billion, a P/E ratio of 144.87, a P/E/G ratio of 3.41 and a beta of 0.38. ABIOMED has a 52-week low of $225.50 and a 52-week high of $459.75.
ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, January 31st. The medical equipment provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $200.56 million for the quarter, compared to the consensus estimate of $200.60 million. ABIOMED had a return on equity of 20.31% and a net margin of 30.12%. Research analysts expect that ABIOMED will post 3.61 EPS for the current year.
In other ABIOMED news, Director Martin P. Sutter sold 5,985 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $349.49, for a total transaction of $2,091,697.65. Following the transaction, the director now owns 212,943 shares of the company’s stock, valued at $74,421,449.07. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO David M. Weber sold 24,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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. In the last three months, insiders have sold 49,928 shares of company stock worth $17,512,612. Company insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Ontario Teachers Pension Plan Board boosted its stake in shares of ABIOMED by 61.4% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 1,735 shares of the medical equipment provider’s stock valued at $564,000 after buying an additional 660 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of ABIOMED by 52.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,476 shares of the medical equipment provider’s stock valued at $1,779,000 after buying an additional 1,881 shares during the period. Bank of Nova Scotia boosted its stake in shares of ABIOMED by 113.4% in the fourth quarter. Bank of Nova Scotia now owns 53,646 shares of the medical equipment provider’s stock valued at $17,437,000 after buying an additional 28,506 shares during the period. TrinityPoint Wealth LLC bought a new stake in shares of ABIOMED in the fourth quarter valued at approximately $5,650,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of ABIOMED by 52.2% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,712 shares of the medical equipment provider’s stock valued at $7,382,000 after buying an additional 7,786 shares during the period. 95.25% of the stock is currently owned by hedge funds and other 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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