ABIOMED (ABMD) Receives Buy Rating from Piper Jaffray Companies

Piper Jaffray Companies reaffirmed their buy rating on shares of ABIOMED (NASDAQ:ABMD) in a research report sent to investors on Thursday.

Several other research firms have also commented on ABMD. Zacks Investment Research upgraded ABIOMED from a hold rating to a buy rating and set a $213.00 target price on the stock in a research report on Friday, December 29th. Jefferies Group raised their price target on ABIOMED from $208.00 to $220.00 and gave the stock a buy rating in a research note on Thursday, December 21st. BidaskClub cut ABIOMED from a buy rating to a hold rating in a report on Tuesday, December 12th. SunTrust Banks reaffirmed a buy rating and set a $195.00 price objective on shares of ABIOMED in a research note on Wednesday, November 1st. Finally, BTIG Research reiterated a hold rating on shares of ABIOMED in a report on Sunday, October 29th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. ABIOMED presently has an average rating of Buy and an average price target of $191.14.

Shares of ABIOMED (NASDAQ:ABMD) traded up $3.07 on Thursday, reaching $202.32. The company’s stock had a trading volume of 277,379 shares, compared to its average volume of 247,833. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.84 and a quick ratio of 5.20. The firm has a market cap of $8,950.00, a P/E ratio of 99.67, a PEG ratio of 2.58 and a beta of 0.15. ABIOMED has a 52 week low of $103.53 and a 52 week high of $200.28.

ABIOMED (NASDAQ:ABMD) last issued its quarterly 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. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The company had revenue of $132.80 million for the quarter, compared to analyst estimates of $131.18 million. During the same quarter in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. research analysts anticipate that ABIOMED will post 2.41 earnings per share for the current year.

In other news, VP Michael G. Howley sold 10,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $178.64, for a total transaction of $1,786,400.00. Following the completion of the sale, the vice president now owns 56,757 shares in the company, valued at approximately $10,139,070.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dorothy E. Puhy sold 6,364 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $179.08, for a total transaction of $1,139,665.12. Following the sale, the director now directly owns 39,532 shares of the company’s stock, valued at approximately $7,079,390.56. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Seven Eight Capital LP acquired a new position in shares of ABIOMED during the 2nd quarter valued at $100,000. Rehmann Capital Advisory Group purchased a new stake in ABIOMED during the 3rd quarter worth $202,000. Sigma Planning Corp acquired a new stake in ABIOMED in the 3rd quarter valued at $206,000. Dorsey & Whitney Trust CO LLC acquired a new stake in ABIOMED in the 3rd quarter valued at $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in ABIOMED by 15.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock valued at $217,000 after purchasing an additional 197 shares during the period. Institutional investors own 90.45% of the company’s stock.

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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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