Abiomed Inc. (ABMD) Hits New 12-Month High at $116.25
Abiomed Inc. (NASDAQ:ABMD) reached a new 52-week high during trading on Monday . The stock traded as high as $116.25 and last traded at $115.79, with a volume of 406,751 shares traded. The stock had previously closed at $114.15.
Several equities research analysts recently commented on ABMD shares. Leerink Swann reiterated a “buy” rating on shares of Abiomed in a research report on Sunday, April 17th. Zacks Investment Research downgraded shares of Abiomed from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 6th. Jefferies Group restated a “buy” rating and issued a $125.00 price target on shares of Abiomed in a research report on Tuesday, March 22nd. Finally, Benchmark Co. restated a “buy” rating and issued a $145.00 price target on shares of Abiomed in a research report on Sunday, April 10th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $111.98.
The company’s 50 day moving average price is $103.32 and its 200 day moving average price is $92.75. The firm has a market capitalization of $4.91 billion and a price-to-earnings ratio of 136.112.
Abiomed (NASDAQ:ABMD) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. During the same quarter in the previous year, the business earned $2.24 earnings per share. The business had revenue of $94 million for the quarter, compared to the consensus estimate of $90.52 million. The firm’s revenue was up 39.1% on a year-over-year basis. Equities research analysts forecast that Abiomed Inc. will post $1.13 earnings per share for the current fiscal year.
In other news, VP Andrew J. Greenfield sold 10,000 shares of the stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $99.10, for a total transaction of $991,000.00. Following the completion of the sale, the vice president now owns 61,186 shares of the company’s stock, valued at $6,063,532.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO David M. Weber sold 52,000 shares of the stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $95.27, for a total value of $4,954,040.00. Following the sale, the chief operating officer now directly owns 121,676 shares of the company’s stock, valued at approximately $11,592,072.52. The disclosure for this sale can be found here.
Other hedge funds recently added to or reduced their stakes in the company. Redwood Investments LLC raised its stake in Abiomed by 19.1% in the fourth quarter. Redwood Investments LLC now owns 22,724 shares of the company’s stock worth $2,052,000 after buying an additional 3,639 shares during the period. Principal Financial Group Inc. raised its stake in Abiomed by 4.3% in the fourth quarter. Principal Financial Group Inc. now owns 262,842 shares of the company’s stock worth $23,729,000 after buying an additional 10,851 shares during the period. Wells Fargo & Company MN raised its stake in Abiomed by 396.1% in the fourth quarter. Wells Fargo & Company MN now owns 179,883 shares of the company’s stock worth $16,240,000 after buying an additional 143,624 shares during the period. Bank of Montreal Can raised its stake in Abiomed by 5.0% in the fourth quarter. Bank of Montreal Can now owns 168,969 shares of the company’s stock worth $15,255,000 after buying an additional 8,120 shares during the period. Finally, Baillie Gifford & Co. bought a new stake in Abiomed during the fourth quarter worth $25,947,000.
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