Abiomed (NASDAQ:ABMD) Upgraded at StockNews.com

Abiomed (NASDAQ:ABMDGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Separately, Wolfe Research began coverage on Abiomed in a report on Tuesday, April 5th. They issued a “market perform” rating and a $330.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $341.80.

ABMD traded down $2.15 during trading on Monday, reaching $260.10. The company’s stock had a trading volume of 132,392 shares, compared to its average volume of 358,302. Abiomed has a 52-week low of $226.46 and a 52-week high of $379.30. The company’s fifty day moving average price is $282.32 and its 200-day moving average price is $302.55. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 87.87, a price-to-earnings-growth ratio of 2.99 and a beta of 1.35.

Abiomed (NASDAQ:ABMDGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The medical equipment provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Abiomed had a return on equity of 14.47% and a net margin of 13.23%. The company had revenue of $269.50 million for the quarter, compared to analyst estimates of $267.67 million. During the same quarter in the previous year, the company earned $1.24 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts anticipate that Abiomed will post 4.62 EPS for the current year.

In related news, CFO Todd A. Trapp sold 1,000 shares of Abiomed stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $333.00, for a total transaction of $333,000.00. Following the completion of the transaction, the chief financial officer now directly owns 13,063 shares in the company, valued at approximately $4,349,979. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin P. Sutter sold 2,000 shares of Abiomed stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $258.01, for a total value of $516,020.00. Following the transaction, the director now owns 128,390 shares of the company’s stock, valued at $33,125,903.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,500 shares of company stock valued at $3,399,020. Insiders own 3.00% of the company’s stock.

Several institutional investors have recently modified their holdings of ABMD. FMR LLC raised its position in shares of Abiomed by 287.2% during the 1st quarter. FMR LLC now owns 30,927 shares of the medical equipment provider’s stock worth $8,833,000 after purchasing an additional 22,940 shares during the last quarter. Morgan Stanley raised its holdings in Abiomed by 27.2% in the 2nd quarter. Morgan Stanley now owns 119,447 shares of the medical equipment provider’s stock valued at $37,282,000 after acquiring an additional 25,558 shares during the last quarter. HighTower Advisors LLC raised its holdings in Abiomed by 14.9% in the 3rd quarter. HighTower Advisors LLC now owns 11,439 shares of the medical equipment provider’s stock valued at $3,746,000 after acquiring an additional 1,480 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Abiomed in the 3rd quarter valued at $1,037,000. Finally, FourThought Financial LLC raised its holdings in Abiomed by 14.0% in the 3rd quarter. FourThought Financial LLC now owns 392 shares of the medical equipment provider’s stock valued at $127,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Abiomed Company Profile (Get Rating)

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 a continuum of care to heart failure patients. The company offers Impella 2.5, a percutaneous micro heart pump with integrated motor and sensors; and Impella CP, a device for use by interventional cardiologists to support patients in the cath lab, as well as by cardiac surgeons in the heart surgery suite.

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