Abiomed Inc. (ABMD) Sets New 12-Month High at $121.56
Abiomed Inc. (NASDAQ:ABMD) shares reached a new 52-week high on Thursday . The stock traded as high as $121.56 and last traded at $121.36, with a volume of 265,209 shares traded. The stock had previously closed at $118.58.
Several research firms have weighed in on ABMD. Jefferies Group increased their price objective on Abiomed from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Zacks Investment Research upgraded Abiomed from a “hold” rating to a “strong-buy” rating and set a $127.00 price objective on the stock in a research report on Tuesday, July 5th. Leerink Swann reiterated an “outperform” rating and set a $125.00 price objective (up previously from $120.00) on shares of Abiomed in a research report on Wednesday, May 4th. Finally, Benchmark Co. reiterated a “buy” rating and set a $145.00 price objective on shares of Abiomed in a research report on Sunday, April 10th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $112.43.
The stock has a 50 day moving average of $111.46 and a 200-day moving average of $96.56. The company has a market cap of $5.20 billion and a P/E ratio of 129.16.
Abiomed (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.06. The business earned $103 million during the quarter, compared to analysts’ expectations of $97.23 million. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 EPS. On average, equities research analysts anticipate that Abiomed Inc. will post $1.17 earnings per share for the current year.
In other Abiomed news, COO David M. Weber sold 5,604 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $94.56, for a total value of $529,914.24. Following the transaction, the chief operating officer now owns 116,783 shares of the company’s stock, valued at $11,043,000.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew J. Greenfield sold 9,000 shares of the business’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $104.16, for a total value of $937,440.00. Following the completion of the transaction, the vice president now directly owns 65,234 shares in the company, valued at approximately $6,794,773.44. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. KBC Group NV boosted its position in Abiomed by 47.1% in the fourth quarter. KBC Group NV now owns 16,302 shares of the company’s stock valued at $1,472,000 after buying an additional 5,220 shares in the last quarter. State of Tennessee Treasury Department purchased a new stake in shares of Abiomed during the fourth quarter valued at about $2,726,000. Dimensional Fund Advisors LP raised its stake in shares of Abiomed by 20.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 75,064 shares of the company’s stock valued at $6,778,000 after buying an additional 12,987 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Abiomed by 20.1% in the fourth quarter. Stephens Inc. AR now owns 23,375 shares of the company’s stock valued at $2,110,000 after buying an additional 3,918 shares during the last quarter. Finally, Redwood Investments LLC raised its stake in shares of Abiomed by 19.1% in the fourth quarter. Redwood Investments LLC now owns 22,724 shares of the company’s stock valued at $2,052,000 after buying an additional 3,639 shares during the last quarter.
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