Brokerages Set ABIOMED, Inc. (NASDAQ:ABMD) Target Price at $277.50

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ABIOMED, Inc. (NASDAQ:ABMD) has been assigned an average rating of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $265.00.

A number of research firms have weighed in on ABMD. ValuEngine upgraded ABIOMED from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. TheStreet cut ABIOMED from a “b-” rating to a “c+” rating in a research note on Thursday, August 22nd. Leerink Swann raised their price target on ABIOMED from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday. William Blair restated a “buy” rating on shares of ABIOMED in a research note on Monday, September 30th. Finally, Morgan Stanley cut ABIOMED from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $325.00 to $215.00 in a research note on Thursday, August 1st.

In other news, COO David M. Weber sold 8,095 shares of ABIOMED stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.26, for a total transaction of $1,669,674.70. Following the sale, the chief operating officer now owns 132,913 shares in the company, valued at $27,414,635.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Executive Wealth Management LLC increased its position in shares of ABIOMED by 100.0% during the second quarter. Executive Wealth Management LLC now owns 100 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Kistler Tiffany Companies LLC purchased a new position in shares of ABIOMED during the third quarter worth about $34,000. Tompkins Financial Corp purchased a new position in shares of ABIOMED during the second quarter worth about $39,000. FTB Advisors Inc. purchased a new position in shares of ABIOMED during the second quarter worth about $48,000. Finally, Captrust Financial Advisors grew its holdings in shares of ABIOMED by 484.8% during the second quarter. Captrust Financial Advisors now owns 193 shares of the medical equipment provider’s stock worth $50,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 90.86% of the company’s stock.

ABIOMED stock traded up $9.21 during mid-day trading on Friday, hitting $216.79. The company’s stock had a trading volume of 1,059,200 shares, compared to its average volume of 742,397. ABIOMED has a 1 year low of $155.02 and a 1 year high of $427.70. The firm has a market capitalization of $9.42 billion, a PE ratio of 60.22, a price-to-earnings-growth ratio of 1.80 and a beta of 0.37. The stock’s fifty day moving average is $179.37 and its two-hundred day moving average is $227.44.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, October 31st. The medical equipment provider reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.10. ABIOMED had a return on equity of 19.89% and a net margin of 26.92%. The company had revenue of $204.97 million for the quarter, compared to analysts’ expectations of $206.45 million. During the same period last year, the firm earned $1.09 earnings per share. ABIOMED’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, analysts predict that ABIOMED will post 4.26 earnings per share for the current fiscal year.

ABIOMED Company Profile

ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.

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Analyst Recommendations for ABIOMED (NASDAQ:ABMD)

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