Jefferies Group LLC Increases ABIOMED, Inc. (ABMD) Price Target to $175.00
ABIOMED, Inc. (NASDAQ:ABMD) had its price target increased by stock analysts at Jefferies Group LLC from $165.00 to $175.00 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the medical equipment provider’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 12.29% from the stock’s previous close.
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Piper Jaffray Companies reiterated an “overweight” rating and set a $160.00 price objective (up previously from $145.00) on shares of ABIOMED in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “strong-buy” rating and set a $163.00 price objective on the stock in a research note on Thursday, July 13th. William Blair reiterated an “outperform” rating on shares of ABIOMED in a research note on Thursday, June 8th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $140.00 price objective (up previously from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $156.86.
Shares of ABIOMED (NASDAQ:ABMD) traded down 0.01% during midday trading on Friday, hitting $155.85. 369,056 shares of the company’s stock were exchanged. ABIOMED has a 1-year low of $95.14 and a 1-year high of $156.89. The stock has a market cap of $6.84 billion, a PE ratio of 91.14 and a beta of 0.20. The stock’s 50 day moving average is $144.32 and its 200-day moving average is $129.29.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $132.47 million for the quarter, compared to analyst estimates of $130.83 million. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. The business’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. Analysts predict that ABIOMED will post $2.24 earnings per share for the current fiscal year.
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In related news, VP Michael G. Howley sold 18,279 shares of ABIOMED stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $133.56, for a total value of $2,441,343.24. Following the completion of the sale, the vice president now owns 62,105 shares in the company, valued at $8,294,743.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David M. Weber sold 16,500 shares of ABIOMED stock in a transaction on Monday, July 31st. The stock was sold at an average price of $147.63, for a total transaction of $2,435,895.00. Following the completion of the sale, the chief operating officer now owns 125,122 shares of the company’s stock, valued at approximately $18,471,760.86. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of ABIOMED by 1,078.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,966 shares of the medical equipment provider’s stock worth $3,291,000 after buying an additional 21,017 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of ABIOMED by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,947 shares of the medical equipment provider’s stock worth $852,000 after buying an additional 32 shares during the period. JPMorgan Chase & Co. raised its stake in shares of ABIOMED by 5.1% in the second quarter. JPMorgan Chase & Co. now owns 14,094 shares of the medical equipment provider’s stock worth $2,019,000 after buying an additional 680 shares during the period. Artemis Investment Management LLP raised its stake in shares of ABIOMED by 58.8% in the second quarter. Artemis Investment Management LLP now owns 30,301 shares of the medical equipment provider’s stock worth $4,340,000 after buying an additional 11,217 shares during the period. Finally, Swiss National Bank raised its stake in shares of ABIOMED by 1.0% in the second quarter. Swiss National Bank now owns 68,900 shares of the medical equipment provider’s stock worth $9,873,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 90.51% of the company’s stock.
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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