Abiomed (NASDAQ:ABMD) shares reached a new 52-week high and low during mid-day trading on Thursday . The stock traded as low as $403.44 and last traded at $395.54, with a volume of 13610 shares. The stock had previously closed at $395.52.
Several research analysts have recently issued reports on the company. Piper Jaffray Companies upped their price objective on Abiomed to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, May 3rd. ValuEngine raised Abiomed from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 3rd. Zacks Investment Research raised Abiomed from a “hold” rating to a “buy” rating and set a $338.00 price objective for the company in a research report on Thursday, May 3rd. Morgan Stanley upped their price objective on Abiomed from $259.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 1st. Finally, Goldman Sachs Group assumed coverage on Abiomed in a research report on Wednesday, April 4th. They set a “buy” rating and a $332.00 price objective for the company. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Abiomed currently has an average rating of “Buy” and a consensus price target of $325.00.
Get Abiomed alerts:The stock has a market capitalization of $17.47 billion, a PE ratio of 165.05, a PEG ratio of 4.26 and a beta of 0.18.
Abiomed (NASDAQ:ABMD) last announced its earnings results on Thursday, May 3rd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.16. The firm had revenue of $174.44 million during the quarter, compared to analysts’ expectations of $164.30 million. Abiomed had a return on equity of 17.58% and a net margin of 18.89%. The business’s revenue was up 39.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. equities research analysts predict that Abiomed will post 3.43 EPS for the current fiscal year.
In related news, Director Martin P. Sutter sold 21,890 shares of the company’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $343.50, for a total value of $7,519,215.00. Following the completion of the sale, the director now directly owns 46,668 shares of the company’s stock, valued at approximately $16,030,458. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP William J. Bolt sold 22,790 shares of the company’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $348.03, for a total value of $7,931,603.70. Following the completion of the sale, the senior vice president now directly owns 66,414 shares of the company’s stock, valued at $23,114,064.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,180 shares of company stock valued at $21,542,744. Insiders own 7.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd purchased a new stake in Abiomed during the 1st quarter valued at approximately $108,000. Dupont Capital Management Corp purchased a new stake in Abiomed during the 1st quarter valued at approximately $161,000. Cerebellum GP LLC purchased a new stake in Abiomed during the 4th quarter valued at approximately $127,000. Mutual Advisors LLC purchased a new stake in Abiomed during the 1st quarter valued at approximately $206,000. Finally, Intersect Capital LLC purchased a new stake in Abiomed during the 1st quarter valued at approximately $214,000. 87.79% 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; Impella CP that provides partial circulatory support using an extracorporeal bypass control unit; Impella 5.0 catheter and Impella LD, which are percutaneous micro heart pumps with integrated motors and sensors for use primarily in the heart surgery suite; and Impella RP, a percutaneous catheter-based axial flow pump.
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