ABIOMED, Inc. (ABMD) Receives $421.00 Average Target Price from Analysts

Shares of ABIOMED, Inc. (NASDAQ:ABMD) have been assigned an average rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $421.00.

A number of research firms have commented on ABMD. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “buy” rating and set a $370.00 price objective on the stock in a research note on Friday, January 18th. BidaskClub upgraded shares of ABIOMED from a “hold” rating to a “buy” rating in a research note on Friday, December 28th. BTIG Research upgraded shares of ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Friday, November 2nd. Morgan Stanley reduced their price objective on shares of ABIOMED from $496.00 to $461.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. Finally, ValuEngine downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th.

In other news, COO David M. Weber sold 24,000 shares of ABIOMED stock in a transaction that occurred on Friday, January 25th. The shares were sold at an average price of $351.47, for a total value of $8,435,280.00. Following the transaction, the chief operating officer now owns 161,842 shares of the company’s stock, valued at $56,882,607.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Martin P. Sutter sold 19,943 shares of ABIOMED stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $350.28, for a total transaction of $6,985,634.04. Following the completion of the transaction, the director now directly owns 212,943 shares in the company, valued at approximately $74,589,674.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,928 shares of company stock valued at $26,515,812. 3.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in ABMD. Creative Planning boosted its stake in shares of ABIOMED by 5.3% in the 3rd quarter. Creative Planning now owns 10,593 shares of the medical equipment provider’s stock valued at $4,764,000 after purchasing an additional 533 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of ABIOMED by 156.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 72,160 shares of the medical equipment provider’s stock valued at $31,308,000 after acquiring an additional 44,074 shares during the last quarter. MetLife Investment Advisors LLC increased its stake in shares of ABIOMED by 4.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 13,052 shares of the medical equipment provider’s stock valued at $5,870,000 after acquiring an additional 613 shares during the last quarter. Financial Partners Group Inc grew its position in shares of ABIOMED by 21.1% in the 3rd quarter. Financial Partners Group Inc now owns 3,165 shares of the medical equipment provider’s stock valued at $1,423,000 after purchasing an additional 552 shares during the period. Finally, Vanguard Group Inc grew its position in shares of ABIOMED by 5.9% in the 3rd quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock valued at $2,090,091,000 after purchasing an additional 260,829 shares during the period. Institutional investors and hedge funds own 87.68% of the company’s stock.

Shares of ABMD stock opened at $358.36 on Tuesday. The firm has a market capitalization of $16.33 billion, a PE ratio of 146.27, a PEG ratio of 3.63 and a beta of 0.38. ABIOMED has a twelve month low of $258.10 and a twelve month high of $459.75.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, January 31st. The medical equipment provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. ABIOMED had a net margin of 30.12% and a return on equity of 20.31%. The firm had revenue of $200.56 million for the quarter, compared to the consensus estimate of $200.60 million. As a group, analysts anticipate that ABIOMED will post 3.61 EPS for the current fiscal year.

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: Quiet Period Expirations

Analyst Recommendations for ABIOMED (NASDAQ:ABMD)

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