A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded ABIOMED from a hold rating to a sell rating in a research report on Wednesday, May 8th. BTIG Research reissued a buy rating on shares of ABIOMED in a report on Tuesday, May 7th. ValuEngine cut ABIOMED from a hold rating to a sell rating in a report on Tuesday, May 7th. Finally, SunTrust Banks reissued a buy rating and set a $340.00 price objective on shares of ABIOMED in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $398.40.
Shares of ABMD opened at $262.03 on Tuesday. The stock has a market cap of $12.09 billion, a PE ratio of 72.79, a price-to-earnings-growth ratio of 2.12 and a beta of 0.40. ABIOMED has a 12-month low of $228.00 and a 12-month high of $459.75.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.53. The firm had revenue of $207.08 million during the quarter, compared to the consensus estimate of $218.88 million. ABIOMED had a return on equity of 20.32% and a net margin of 33.66%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the company posted $0.80 EPS. On average, sell-side analysts forecast that ABIOMED will post 4.5 earnings per share for the current year.
In related news, Director Martin P. Sutter sold 4,664 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $259.97, for a total transaction of $1,212,500.08. Following the transaction, the director now directly owns 192,550 shares of the company’s stock, valued at approximately $50,057,223.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. QS Investors LLC increased its stake in ABIOMED by 447.0% in the 4th quarter. QS Investors LLC now owns 7,954 shares of the medical equipment provider’s stock worth $2,586,000 after purchasing an additional 6,500 shares during the period. NEXT Financial Group Inc increased its stake in ABIOMED by 98.0% in the 4th quarter. NEXT Financial Group Inc now owns 505 shares of the medical equipment provider’s stock worth $164,000 after purchasing an additional 250 shares during the period. American International Group Inc. increased its stake in ABIOMED by 8.0% in the 4th quarter. American International Group Inc. now owns 17,054 shares of the medical equipment provider’s stock worth $5,543,000 after purchasing an additional 1,256 shares during the period. Thrivent Financial for Lutherans increased its stake in ABIOMED by 174.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 43,895 shares of the medical equipment provider’s stock worth $14,767,000 after purchasing an additional 27,910 shares during the period. Finally, Vanguard Group Inc increased its stake in ABIOMED by 5.9% in the 3rd quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock worth $2,090,091,000 after purchasing an additional 260,829 shares during the period. 87.13% of the stock is currently owned by institutional investors.
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.
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