ABIOMED (ABMD) Raised to Buy at ValuEngine

ValuEngine upgraded shares of ABIOMED (NASDAQ:ABMD) from a hold rating to a buy rating in a report released on Wednesday.

Several other analysts also recently weighed in on ABMD. BidaskClub downgraded shares of ABIOMED from a buy rating to a hold rating in a research report on Thursday, November 15th. Morgan Stanley upgraded shares of ABIOMED from an equal rating to a weight rating and boosted their price target for the stock from $396.00 to $496.00 in a research report on Wednesday, November 7th. BTIG Research upgraded shares of ABIOMED from a neutral rating to a buy rating and set a $450.00 price target on the stock in a research report on Friday, November 2nd. Finally, Zacks Investment Research downgraded shares of ABIOMED from a buy rating to a hold rating in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. ABIOMED has an average rating of Buy and a consensus price target of $402.78.

Shares of NASDAQ:ABMD opened at $332.68 on Wednesday. The stock has a market capitalization of $14.98 billion, a P/E ratio of 107.66, a PEG ratio of 2.72 and a beta of 0.35. ABIOMED has a fifty-two week low of $186.72 and a fifty-two week high of $459.75.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.36. The firm had revenue of $181.78 million for the quarter, compared to the consensus estimate of $175.41 million. ABIOMED had a net margin of 27.60% and a return on equity of 20.09%. ABIOMED’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period last year, the firm posted $0.54 EPS. On average, equities analysts predict that ABIOMED will post 3.57 earnings per share for the current year.

In other ABIOMED news, VP Michael G. Howley sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $432.50, for a total transaction of $4,325,000.00. Following the sale, the vice president now directly owns 48,954 shares in the company, valued at approximately $21,172,605. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in ABMD. NEXT Financial Group Inc acquired a new position in shares of ABIOMED in the 3rd quarter worth approximately $115,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of ABIOMED by 160.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 320 shares of the medical equipment provider’s stock worth $144,000 after purchasing an additional 197 shares during the last quarter. TRUE Private Wealth Advisors acquired a new position in shares of ABIOMED in the 3rd quarter worth approximately $162,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in shares of ABIOMED in the 2nd quarter worth approximately $164,000. Finally, Rampart Investment Management Company LLC acquired a new position in shares of ABIOMED in the 2nd quarter worth approximately $175,000. Institutional investors own 84.88% of the company’s stock.

About ABIOMED

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.

Further Reading: Why investors pay attention to retained earnings

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ABIOMED (NASDAQ:ABMD)

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