ABIOMED, Inc. (NASDAQ:ABMD) had its price objective hoisted by Piper Jaffray Companies to $200.00 in a research note released on Thursday, October 26th, The Fly reports. Piper Jaffray Companies currently has an overweight rating on the medical equipment provider’s stock.
ABMD has been the topic of several other research reports. BTIG Research lowered shares of ABIOMED from a buy rating to a neutral rating in a research report on Monday, October 16th. Leerink Swann reiterated an outperform rating and issued a $200.00 target price (up previously from $180.00) on shares of ABIOMED in a research report on Thursday, October 12th. Zacks Investment Research downgraded shares of ABIOMED from a hold rating to a sell rating in a research note on Tuesday, October 10th. SunTrust Banks, Inc. began coverage on shares of ABIOMED in a research note on Friday, September 29th. They issued a buy rating and a $195.00 price target on the stock. Finally, Jefferies Group LLC raised their price target on shares of ABIOMED from $175.00 to $208.00 and gave the stock a buy rating in a research note on Friday, September 29th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $185.38.
Shares of ABIOMED (NASDAQ ABMD) traded down $0.33 during trading on Thursday, hitting $195.21. 176,400 shares of the company traded hands, compared to its average volume of 391,739. The company has a current ratio of 5.84, a quick ratio of 5.20 and a debt-to-equity ratio of 0.02. ABIOMED has a 12-month low of $103.53 and a 12-month high of $198.29. The stock has a market capitalization of $8,631.41, a PE ratio of 125.13, a PEG ratio of 2.60 and a beta of 0.23.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.16. The company had revenue of $132.80 million for the quarter, compared to analyst estimates of $131.18 million. ABIOMED had a net margin of 18.27% and a return on equity of 13.89%. The firm’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the business earned $0.20 earnings per share. analysts predict that ABIOMED will post 2.38 earnings per share for the current fiscal year.
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In other news, VP Michael G. Howley sold 10,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $178.64, for a total value of $1,786,400.00. Following the completion of the transaction, 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 SEC, which is available at this link. Also, Director Eric A. Md Rose sold 982 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $145.17, for a total transaction of $142,556.94. Following the completion of the transaction, the director now owns 13,634 shares of the company’s stock, valued at approximately $1,979,247.78. The disclosure for this sale can be found here. Insiders have sold a total of 61,646 shares of company stock valued at $10,003,780 in the last quarter. 7.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in ABIOMED by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,947 shares of the medical equipment provider’s stock worth $852,000 after buying an additional 32 shares during the last quarter. BB&T Securities LLC grew its stake in shares of ABIOMED by 1.0% during the 2nd quarter. BB&T Securities LLC now owns 4,154 shares of the medical equipment provider’s stock worth $595,000 after purchasing an additional 43 shares during the period. Teacher Retirement System of Texas grew its stake in shares of ABIOMED by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,294 shares of the medical equipment provider’s stock worth $472,000 after purchasing an additional 51 shares during the period. Capstone Asset Management Co. grew its stake in shares of ABIOMED by 1.1% during the 2nd quarter. Capstone Asset Management Co. now owns 6,410 shares of the medical equipment provider’s stock worth $919,000 after purchasing an additional 70 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of ABIOMED by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,842 shares of the medical equipment provider’s stock worth $982,000 after purchasing an additional 95 shares during the period. Institutional investors own 90.58% of the company’s stock.
ABIOMED Company Profile
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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