Abiomed Inc. (ABMD) Stock Rating Reaffirmed by Leerink Swann
Abiomed Inc. (NASDAQ:ABMD)‘s stock had its “outperform” rating restated by equities researchers at Leerink Swann in a report issued on Wednesday. They currently have a $125.00 price objective on the stock. Leerink Swann’s price target would suggest a potential downside of 2.66% from the company’s current price.
A number of other research firms have also weighed in on ABMD. Jefferies Group boosted their target price on shares of 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 lowered shares of Abiomed from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $115.59.
Abiomed (NASDAQ:ABMD) opened at 128.42 on Wednesday. The company has a market cap of $5.50 billion, a PE ratio of 136.62 and a beta of 0.89. The firm has a 50-day moving average of $121.83 and a 200-day moving average of $107.68. Abiomed has a one year low of $67.81 and a one year high of $131.16.
Abiomed (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. Abiomed had a net margin of 11.75% and a return on equity of 11.86%. The business earned $103 million during the quarter, compared to analyst estimates of $97.23 million. During the same quarter in the previous year, the business earned $0.20 EPS. Abiomed’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, analysts predict that Abiomed will post $1.17 EPS for the current year.
In related news, Director Dorothy E. Puhy sold 3,900 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $122.31, for a total value of $477,009.00. Following the sale, the director now owns 33,811 shares of the company’s stock, valued at $4,135,423.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael G. Howley sold 17,853 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $119.20, for a total transaction of $2,128,077.60. Following the completion of the sale, the vice president now directly owns 65,558 shares in the company, valued at approximately $7,814,513.60. The disclosure for this sale can be found here. Insiders own 10.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Cypress Capital Management LLC WY acquired a new stake in Abiomed during the second quarter worth $106,000. Bessemer Group Inc. boosted its stake in Abiomed by 94.3% in the first quarter. Bessemer Group Inc. now owns 1,226 shares of the company’s stock worth $116,000 after buying an additional 595 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Abiomed by 28.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,243 shares of the company’s stock worth $136,000 after buying an additional 278 shares during the last quarter. Affinity Wealth Management acquired a new stake in Abiomed during the first quarter worth $200,000. Finally, Advisor Group Inc. acquired a new stake in Abiomed during the second quarter worth $204,000. 93.65% of the stock is currently owned by institutional investors and hedge funds.
Abiomed Company Profile
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