ABIOMED, Inc. (ABMD) Cut to “Hold” at BidaskClub
ABIOMED, Inc. (NASDAQ:ABMD) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
Other equities analysts have also issued research reports about the company. William Blair reaffirmed an “outperform” rating on shares of ABIOMED in a research note on Thursday, June 8th. Zacks Investment Research upgraded ABIOMED from a “hold” rating to a “strong-buy” rating and set a $163.00 price objective for the company in a report on Thursday, July 13th. Piper Jaffray Companies set a $145.00 price target on ABIOMED in a research note on Tuesday, July 4th. Leerink Swann raised their price target on ABIOMED from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, March 30th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $140.00 price objective (up from $135.00) on shares of ABIOMED in a research report on Monday, July 10th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. ABIOMED has a consensus rating of “Buy” and a consensus price target of $151.86.
ABIOMED (NASDAQ ABMD) traded up 1.04% on Tuesday, reaching $148.83. 216,930 shares of the company traded hands. ABIOMED has a 52-week low of $95.14 and a 52-week high of $149.34. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 127.21 and a beta of 0.20. The firm has a 50 day moving average price of $142.98 and a 200 day moving average price of $127.45.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, May 4th. The medical equipment provider reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. ABIOMED had a return on equity of 12.67% and a net margin of 11.70%. The business had revenue of $124.68 million for the quarter, compared to analysts’ expectations of $122.82 million. During the same period in the previous year, the business posted $0.24 earnings per share. ABIOMED’s quarterly revenue was up 32.7% on a year-over-year basis. Equities research analysts predict that ABIOMED will post $1.84 EPS for the current year.
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In other ABIOMED news, COO David M. Weber sold 21,250 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $130.89, for a total transaction of $2,781,412.50. Following the sale, the chief operating officer now owns 123,771 shares in the company, valued at $16,200,386.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dorothy E. Puhy sold 13,500 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $131.12, for a total value of $1,770,120.00. Following the sale, the director now owns 38,249 shares in the company, valued at approximately $5,015,208.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,629 shares of company stock valued at $7,072,580. 7.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of ABIOMED by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 132,006 shares of the medical equipment provider’s stock worth $14,875,000 after buying an additional 4,990 shares during the period. William Blair Investment Management LLC raised its stake in shares of ABIOMED by 8.9% in the first quarter. William Blair Investment Management LLC now owns 1,121,017 shares of the medical equipment provider’s stock valued at $140,351,000 after buying an additional 91,651 shares during the period. World Asset Management Inc raised its stake in shares of ABIOMED by 17.0% in the first quarter. World Asset Management Inc now owns 2,844 shares of the medical equipment provider’s stock valued at $356,000 after buying an additional 413 shares during the period. Creative Planning raised its stake in shares of ABIOMED by 16.4% in the first quarter. Creative Planning now owns 916 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 129 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of ABIOMED by 2.1% in the first quarter. Municipal Employees Retirement System of Michigan now owns 18,700 shares of the medical equipment provider’s stock valued at $2,341,000 after buying an additional 390 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
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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