ABIOMED, Inc. (NASDAQ:ABMD) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $187.99 and last traded at $188.39, with a volume of 266,951 shares changing hands. The stock had previously closed at $179.48.
Several equities analysts have weighed in on the stock. BidaskClub cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Zacks Investment Research upgraded shares of ABIOMED from a “sell” rating to a “buy” rating and set a $203.00 price target on the stock in a report on Monday. Piper Jaffray Companies reiterated a “buy” rating and issued a $160.00 price objective on shares of ABIOMED in a report on Tuesday, August 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 price objective (up from $135.00) on shares of ABIOMED in a report on Monday, July 10th. Finally, Jefferies Group LLC upped their price objective on shares of ABIOMED from $175.00 to $208.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. ABIOMED currently has an average rating of “Buy” and an average price target of $183.25.
ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.16. ABIOMED had a net margin of 18.27% and a return on equity of 13.89%. The company had revenue of $132.80 million for the quarter, compared to the consensus estimate of $131.18 million. During the same quarter in the previous year, the company earned $0.20 EPS. ABIOMED’s quarterly revenue was up 28.9% compared to the same quarter last year.
In related news, Director Eric A. Md Rose sold 23,018 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $151.09, for a total transaction of $3,477,789.62. Following the completion of the transaction, the director now owns 24,652 shares in the company, valued at $3,724,670.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul Thomas sold 10,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $154.71, for a total transaction of $1,547,100.00. Following the transaction, the director now owns 12,172 shares of the company’s stock, valued at approximately $1,883,130.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,646 shares of company stock valued at $10,003,780. 7.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of ABMD. Huntington National Bank bought a new position in ABIOMED during the second quarter worth about $100,000. Seven Eight Capital LP bought a new position in ABIOMED during the second quarter worth about $100,000. Rehmann Capital Advisory Group bought a new position in ABIOMED during the third quarter worth about $202,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ABIOMED by 15.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock worth $217,000 after purchasing an additional 197 shares during the period. Finally, Private Bank & Trust Co. bought a new position in ABIOMED during the second quarter worth about $226,000. Hedge funds and other institutional investors own 90.55% of the company’s stock.
ABIOMED Company Profile
ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.
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