Leerink Swann reaffirmed their outperform rating on shares of Abiomed Inc. (NASDAQ:ABMD) in a research report sent to investors on Wednesday morning. The brokerage currently has a $125.00 target price on the stock.
ABMD has been the topic of a number of other reports. Zacks Investment Research raised shares of Abiomed from a hold rating to a buy rating and set a $138.00 price target on the stock in a research report on Friday, September 16th. Jefferies Group reissued a buy rating and set a $125.00 price target on shares of Abiomed in a research report on Friday, June 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Abiomed currently has a consensus rating of Buy and an average price target of $115.59.
Abiomed (NASDAQ:ABMD) opened at 127.80 on Wednesday. The firm’s 50-day moving average is $122.08 and its 200 day moving average is $108.59. The firm has a market capitalization of $5.47 billion, a P/E ratio of 135.96 and a beta of 0.75. Abiomed has a 52-week low of $67.81 and a 52-week high of $131.16.
Abiomed (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $103 million for the quarter, compared to analysts’ expectations of $97.23 million. Abiomed had a net margin of 11.75% and a return on equity of 11.86%. The business’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. Equities analysts anticipate that Abiomed will post $1.17 EPS for the current year.
In other Abiomed news, CEO Michael R. Minogue sold 58,710 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $127.00, for a total transaction of $7,456,170.00. Following the sale, the chief executive officer now directly owns 215,782 shares of the company’s stock, valued at approximately $27,404,314. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Henri A. Termeer sold 25,866 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $118.70, for a total transaction of $3,070,294.20. Following the sale, the director now directly owns 325,778 shares in the company, valued at $38,669,848.60. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of ABMD. 1832 Asset Management L.P. acquired a new stake in shares of Abiomed during the first quarter valued at approximately $121,655,000. Norges Bank acquired a new stake in shares of Abiomed during the fourth quarter valued at approximately $46,385,000. State Street Corp boosted its stake in shares of Abiomed by 56.3% in the first quarter. State Street Corp now owns 1,316,168 shares of the company’s stock valued at $124,787,000 after buying an additional 474,209 shares during the period. Columbia Wanger Asset Management LLC boosted its stake in shares of Abiomed by 182.4% in the second quarter. Columbia Wanger Asset Management LLC now owns 388,958 shares of the company’s stock valued at $42,509,000 after buying an additional 251,241 shares during the period. Finally, Sectoral Asset Management Inc. boosted its stake in shares of Abiomed by 456.6% in the second quarter. Sectoral Asset Management Inc. now owns 298,338 shares of the company’s stock valued at $32,605,000 after buying an additional 244,738 shares during the period. 93.65% of the stock is currently owned by hedge funds and other institutional investors.
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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