ABIOMED, Inc. (NASDAQ:ABMD)‘s stock had its “buy” rating reiterated by analysts at SunTrust Banks, Inc. in a research note issued to investors on Wednesday. They presently have a $195.00 target price on the medical equipment provider’s stock. SunTrust Banks, Inc.’s target price suggests a potential upside of 1.08% from the company’s previous close.
Several other equities analysts have also recently issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $160.00 target price on shares of ABIOMED in a research note on Tuesday, August 29th. Jefferies Group LLC reiterated a “buy” rating and issued a $175.00 target price on shares of ABIOMED in a research note on Tuesday, August 29th. Zacks Investment Research cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BTIG Research cut shares of ABIOMED from a “buy” rating to a “neutral” rating in a research note on Monday, October 16th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 target price (up from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $183.25.
Shares of ABIOMED (NASDAQ ABMD) traded down 1.798% during mid-day trading on Wednesday, hitting $189.451. 210,559 shares of the stock were exchanged. The company has a market cap of $8.36 billion, a P/E ratio of 110.790 and a beta of 0.27. ABIOMED has a 52-week low of $101.28 and a 52-week high of $194.42. The stock’s 50-day moving average price is $169.17 and its 200-day moving average price is $149.02.
ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.16. ABIOMED had a net margin of 18.27% and a return on equity of 13.89%. The firm had revenue of $132.80 million during the quarter, compared to analysts’ expectations of $131.18 million. During the same period in the previous year, the business posted $0.20 EPS. The business’s revenue was up 28.9% compared to the same quarter last year. Equities research analysts anticipate that ABIOMED will post $2.44 earnings per share for the current fiscal year.
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In related news, Director Eric A. Md Rose sold 982 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $145.17, for a total value of $142,556.94. Following the completion of the sale, the director now owns 13,634 shares of the company’s stock, valued at approximately $1,979,247.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Andrew J. Greenfield sold 11,282 shares of the business’s 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 disclosure for this sale can be found here. In the last three months, insiders sold 45,282 shares of company stock valued at $7,077,715. 7.00% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of ABIOMED by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,947 shares of the medical equipment provider’s stock worth $852,000 after buying an additional 32 shares in the last quarter. BB&T Securities LLC grew its holdings in shares of ABIOMED by 1.0% during the second quarter. BB&T Securities LLC now owns 4,154 shares of the medical equipment provider’s stock worth $595,000 after buying an additional 43 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of ABIOMED by 1.6% during the second quarter. Teacher Retirement System of Texas now owns 3,294 shares of the medical equipment provider’s stock worth $472,000 after buying an additional 51 shares in the last quarter. Capstone Asset Management Co. grew its holdings in shares of ABIOMED by 1.1% during the second quarter. Capstone Asset Management Co. now owns 6,410 shares of the medical equipment provider’s stock worth $919,000 after buying an additional 70 shares in the last quarter. Finally, Texan Capital Management grew its holdings in shares of ABIOMED by 0.9% during the second quarter. Texan Capital Management now owns 11,779 shares of the medical equipment provider’s stock worth $1,688,000 after buying an additional 100 shares in the last quarter. 90.55% of the stock is owned by institutional investors and hedge funds.
ABIOMED Company Profile
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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