Abiomed (NASDAQ:ABMD) Reaches New 12-Month Low at $221.62

Abiomed, Inc. (NASDAQ:ABMDGet Rating)’s share price hit a new 52-week low on Thursday . The stock traded as low as $221.62 and last traded at $222.74, with a volume of 957 shares traded. The stock had previously closed at $232.35.

Several equities research analysts have issued reports on ABMD shares. StockNews.com cut Abiomed from a “buy” rating to a “hold” rating in a research note on Tuesday. Wolfe Research started coverage on shares of Abiomed in a report on Tuesday, April 5th. They issued a “market perform” rating and a $330.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Abiomed presently has a consensus rating of “Hold” and an average target price of $335.00.

The company has a market cap of $10.07 billion, a PE ratio of 78.50, a price-to-earnings-growth ratio of 2.18 and a beta of 1.35. The business has a 50-day simple moving average of $271.35 and a 200-day simple moving average of $298.90.

Abiomed (NASDAQ:ABMDGet Rating) last released its quarterly earnings results on Thursday, April 28th. The medical equipment provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.08 by $0.08. The business had revenue of $269.50 million during the quarter, compared to analyst estimates of $267.67 million. Abiomed had a return on equity of 14.47% and a net margin of 13.23%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $1.24 earnings per share. As a group, equities research analysts predict that Abiomed, Inc. will post 4.59 EPS for the current fiscal year.

In other news, CFO Todd A. Trapp sold 1,000 shares of the stock in a transaction on Monday, April 4th. The stock was sold at an average price of $333.00, for a total value of $333,000.00. Following the sale, the chief financial officer now directly owns 13,063 shares in the company, valued at $4,349,979. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO David M. Weber sold 7,500 shares of the business’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $340.00, for a total value of $2,550,000.00. Following the transaction, the chief operating officer now directly owns 116,314 shares of the company’s stock, valued at $39,546,760. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,500 shares of company stock valued at $3,399,020. 3.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Abiomed by 2.8% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 1,229 shares of the medical equipment provider’s stock worth $441,000 after buying an additional 34 shares during the period. Kentucky Retirement Systems increased its position in shares of Abiomed by 1.3% in the 3rd quarter. Kentucky Retirement Systems now owns 2,673 shares of the medical equipment provider’s stock valued at $870,000 after purchasing an additional 35 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Abiomed by 15.7% in the 4th quarter. First Horizon Advisors Inc. now owns 266 shares of the medical equipment provider’s stock valued at $95,000 after purchasing an additional 36 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Abiomed by 26.2% during the 1st quarter. Parallel Advisors LLC now owns 188 shares of the medical equipment provider’s stock worth $62,000 after purchasing an additional 39 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Abiomed by 1.1% during the third quarter. Franklin Resources Inc. now owns 3,845 shares of the medical equipment provider’s stock worth $1,252,000 after purchasing an additional 40 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

About Abiomed (NASDAQ:ABMD)

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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