ABIOMED, Inc. (ABMD) Hits New 52-Week High at $187.99

ABIOMED, Inc. (NASDAQ:ABMD) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $187.99 and last traded at $188.39, with a volume of 266,951 shares trading hands. The stock had previously closed at $179.48.

A number of research analysts have recently commented on the company. BidaskClub cut ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BTIG Research restated a “hold” rating on shares of ABIOMED in a research note on Sunday. Piper Jaffray Companies restated an “overweight” rating and issued a $160.00 target price (up previously from $145.00) on shares of ABIOMED in a research note on Thursday, July 27th. Zacks Investment Research cut ABIOMED from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $175.00 price objective on shares of ABIOMED in a research note on Tuesday, August 29th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $183.25.

The stock’s 50-day moving average price is $168.20 and its 200 day moving average price is $148.70. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 110.447 and a beta of 0.26.

ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.16. The company had revenue of $132.80 million during the quarter, compared to analyst estimates of $131.18 million. ABIOMED had a return on equity of 16.77% and a net margin of 18.45%. ABIOMED’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. On average, equities analysts forecast that ABIOMED, Inc. will post $2.44 EPS for the current fiscal year.

In other news, VP Andrew J. Greenfield sold 11,282 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $169.32, for a total transaction of $1,910,268.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric A. Md Rose sold 23,018 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $151.09, for a total value of $3,477,789.62. Following the sale, the director now owns 24,652 shares of the company’s stock, valued at approximately $3,724,670.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,282 shares of company stock valued at $7,077,715. 7.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC lifted its holdings in shares of ABIOMED by 282.5% during the 2nd quarter. Lord Abbett & CO. LLC now owns 60,882 shares of the medical equipment provider’s stock valued at $8,724,000 after purchasing an additional 44,967 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of ABIOMED by 16.2% during the 2nd quarter. Eagle Asset Management Inc. now owns 227,467 shares of the medical equipment provider’s stock valued at $32,596,000 after purchasing an additional 31,690 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of ABIOMED by 21.7% during the 2nd quarter. Victory Capital Management Inc. now owns 9,761 shares of the medical equipment provider’s stock valued at $1,399,000 after purchasing an additional 1,738 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of ABIOMED during the 2nd quarter valued at $588,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of ABIOMED by 45.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,206 shares of the medical equipment provider’s stock valued at $2,322,000 after purchasing an additional 5,055 shares during the last quarter. Hedge funds and other institutional investors own 90.55% of the company’s stock.

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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.

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