ABIOMED (ABMD) Upgraded by BTIG Research to Buy

BTIG Research upgraded shares of ABIOMED (NASDAQ:ABMD) from a neutral rating to a buy rating in a research note published on Friday, MarketBeat reports. BTIG Research currently has $450.00 price target on the medical equipment provider’s stock.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of ABIOMED from a buy rating to a hold rating in a research report on Tuesday, July 31st. Morgan Stanley raised their price target on shares of ABIOMED from $370.00 to $396.00 and gave the stock an equal weight rating in a research report on Thursday, October 11th. BidaskClub raised shares of ABIOMED from a hold rating to a buy rating in a research report on Wednesday, September 5th. Finally, ValuEngine downgraded shares of ABIOMED from a strong-buy rating to a buy rating in a research report on Saturday, August 18th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $391.67.

NASDAQ:ABMD traded up $7.19 during trading hours on Friday, hitting $384.13. The stock had a trading volume of 757,672 shares, compared to its average volume of 736,919. ABIOMED has a 1-year low of $186.72 and a 1-year high of $459.75. The company has a market capitalization of $17.24 billion, a price-to-earnings ratio of 156.79, a price-to-earnings-growth ratio of 4.09 and a beta of 0.35.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.36. ABIOMED had a net margin of 27.60% and a return on equity of 20.09%. The company had revenue of $181.78 million during the quarter, compared to the consensus estimate of $175.41 million. During the same quarter last year, the company earned $0.54 earnings per share. ABIOMED’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, equities research analysts anticipate that ABIOMED will post 3.49 EPS for the current year.

In other ABIOMED news, VP Michael G. Howley sold 10,000 shares of ABIOMED stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $432.50, for a total value of $4,325,000.00. Following the completion of the transaction, the vice president now owns 48,954 shares of the company’s stock, valued at $21,172,605. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Andrew J. Greenfield sold 4,440 shares of ABIOMED stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $395.00, for a total transaction of $1,753,800.00. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its stake in ABIOMED by 3.0% in the second quarter. Baillie Gifford & Co. now owns 2,106,320 shares of the medical equipment provider’s stock valued at $861,591,000 after buying an additional 61,385 shares during the last quarter. Renaissance Technologies LLC lifted its stake in ABIOMED by 35.0% in the second quarter. Renaissance Technologies LLC now owns 1,551,423 shares of the medical equipment provider’s stock valued at $634,610,000 after buying an additional 401,800 shares during the last quarter. FMR LLC lifted its stake in ABIOMED by 34.2% in the second quarter. FMR LLC now owns 691,818 shares of the medical equipment provider’s stock valued at $282,988,000 after buying an additional 176,394 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in ABIOMED by 1,030.0% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 638,856 shares of the medical equipment provider’s stock valued at $287,325,000 after buying an additional 582,318 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in ABIOMED by 32.2% in the second quarter. Northern Trust Corp now owns 442,770 shares of the medical equipment provider’s stock valued at $181,115,000 after buying an additional 107,864 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

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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