ABIOMED, Inc. (ABMD) Rating Reiterated by BTIG Research
A number of other equities analysts have also weighed in on the stock. Piper Jaffray Companies restated a buy rating and set a $160.00 price target on shares of ABIOMED in a research report on Tuesday, August 29th. Jefferies Group LLC restated a buy rating and set a $175.00 price target on shares of ABIOMED in a research report on Tuesday, August 29th. Zacks Investment Research lowered shares of ABIOMED from a buy rating to a hold rating in a research report on Wednesday, July 5th. Morgan Stanley restated an equal weight rating and set a $140.00 price target (up from $135.00) on shares of ABIOMED in a research report on Monday, July 10th. Finally, Leerink Swann restated an outperform rating and set a $200.00 price target (up from $180.00) on shares of ABIOMED in a research report on Thursday, October 12th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. ABIOMED presently has a consensus rating of Buy and an average price target of $183.25.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.16. The firm had revenue of $132.80 million for the quarter, compared to analyst estimates of $131.18 million. ABIOMED had a net margin of 18.27% and a return on equity of 13.89%. ABIOMED’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 earnings per share.
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In other ABIOMED news, Director Eric A. Md Rose sold 982 shares of ABIOMED stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $145.17, for a total transaction of $142,556.94. Following the transaction, the director now directly owns 13,634 shares of the company’s stock, valued at $1,979,247.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dorothy E. Puhy sold 6,364 shares of ABIOMED stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $179.08, for a total transaction of $1,139,665.12. Following the transaction, the director now directly owns 39,532 shares in the company, valued at $7,079,390.56. The disclosure for this sale can be found here. Insiders have sold 61,646 shares of company stock worth $10,003,780 over the last ninety days. 7.00% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Huntington National Bank purchased a new position in ABIOMED during the second quarter worth about $100,000. Seven Eight Capital LP purchased a new stake in shares of ABIOMED in the 2nd quarter valued at approximately $100,000. Rehmann Capital Advisory Group purchased a new stake in shares of ABIOMED in the 3rd quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ABIOMED by 15.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock valued at $217,000 after acquiring an additional 197 shares during the period. Finally, Private Bank & Trust Co. purchased a new stake in shares of ABIOMED in the 2nd quarter valued at approximately $226,000. 90.55% of the stock is currently owned by institutional investors.
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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