Zacks Investment Research downgraded shares of ABIOMED (NASDAQ:ABMD) from a strong-buy rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “In the fourth quarter, ABIOMED reported stellar performance, beating the Zacks Consensus Estimates for both revenue and earnings. The robust demand for the Impella product line continues to drive Abiomed’s top line. The company’s expanding product portfolio is likely to improve penetration into the prophylactic high-risk PCI and cardiogenic shock patient market. This is evident from the fact that Impella 2.5 and CP continue to add centers in the United States. The company successfully launched the Abiomed Impella Quality Program in 2017 to improve clinical outcomes. New achievements in the last quarter, are also encouraging. However, intense competition in the niche markets is likely to mar prospects over the long haul. Abiomed’s significant international presence exposes it to fluctuations in currency exchange rates. The company is likely to face increasing pricing pressure, thanks to growing competition in key markets.”
Other equities analysts have also recently issued reports about the company. Piper Jaffray Companies restated a positive rating and set a $300.00 price objective (up from $220.00) on shares of ABIOMED in a research note on Thursday, February 1st. Guggenheim restated a buy rating and set a $280.00 price objective on shares of ABIOMED in a research note on Friday, February 2nd. Leerink Swann raised their price objective on ABIOMED to $300.00 and gave the company an outperform rating in a research note on Friday, February 2nd. BTIG Research restated a hold rating on shares of ABIOMED in a research note on Sunday, October 29th. Finally, Jefferies Group reiterated a buy rating and set a $300.00 target price on shares of ABIOMED in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $263.86.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, February 1st. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.20. ABIOMED had a return on equity of 15.54% and a net margin of 16.58%. The business had revenue of $154.00 million for the quarter, compared to analysts’ expectations of $154.00 million. During the same period last year, the business earned $0.34 EPS. The business’s revenue was up 34.9% on a year-over-year basis. equities research analysts anticipate that ABIOMED will post 2.39 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABMD. Crow Point Partners LLC bought a new stake in shares of ABIOMED during the 4th quarter worth $120,000. Cerebellum GP LLC purchased a new stake in ABIOMED in the 4th quarter worth about $127,000. SeaCrest Wealth Management LLC purchased a new stake in ABIOMED in the 4th quarter worth about $183,000. Rehmann Capital Advisory Group purchased a new stake in ABIOMED in the 3rd quarter worth about $202,000. Finally, Sigma Planning Corp purchased a new stake in ABIOMED in the 3rd quarter worth about $206,000. Institutional investors own 90.65% 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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