ABIOMED (ABMD) PT Raised to $250.00 at Jefferies Group

ABIOMED (NASDAQ:ABMD) had its price objective increased by Jefferies Group to $250.00 in a research report released on Friday, The Fly reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

Several other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of ABIOMED from a hold rating to a buy rating in a research report on Thursday, January 11th. Piper Jaffray Companies restated a buy rating on shares of ABIOMED in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of ABIOMED from a hold rating to a buy rating and set a $213.00 price target for the company in a research report on Friday, December 29th. SunTrust Banks restated a buy rating and issued a $195.00 price target on shares of ABIOMED in a research report on Wednesday, November 1st. Finally, BTIG Research restated a hold rating on shares of ABIOMED in a research report on Sunday, October 29th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $199.67.

ABIOMED (NASDAQ ABMD) opened at $215.11 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.84 and a quick ratio of 5.20. ABIOMED has a 12-month low of $103.53 and a 12-month high of $216.15. The stock has a market cap of $9,511.33, a P/E ratio of 105.97, a price-to-earnings-growth ratio of 2.84 and a beta of 0.15.

ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $132.80 million during the quarter, compared to analysts’ expectations of $131.18 million. During the same period in the prior year, the company posted $0.20 EPS. The company’s revenue was up 28.9% on a year-over-year basis. equities research analysts predict that ABIOMED will post 2.41 earnings per share for the current year.

In other news, VP Michael G. Howley sold 10,000 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $178.64, for a total transaction of $1,786,400.00. Following the completion of the sale, the vice president now directly owns 56,757 shares in the company, valued at $10,139,070.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dorothy E. Puhy sold 6,364 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $179.08, for a total transaction of $1,139,665.12. Following the sale, the director now owns 39,532 shares of the company’s stock, valued at $7,079,390.56. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC boosted its stake in ABIOMED by 282.5% during the second quarter. Lord Abbett & CO. LLC now owns 60,882 shares of the medical equipment provider’s stock worth $8,724,000 after acquiring an additional 44,967 shares in the last quarter. State of Tennessee Treasury Department bought a new position in ABIOMED during the third quarter worth $5,058,000. PNC Financial Services Group Inc. boosted its stake in ABIOMED by 15.6% during the second quarter. PNC Financial Services Group Inc. now owns 9,067 shares of the medical equipment provider’s stock worth $1,299,000 after acquiring an additional 1,225 shares in the last quarter. State Treasurer State of Michigan boosted its stake in ABIOMED by 34.6% during the third quarter. State Treasurer State of Michigan now owns 190,800 shares of the medical equipment provider’s stock worth $32,169,000 after acquiring an additional 49,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in ABIOMED during the third quarter worth $1,530,000. 90.75% of the stock is currently owned by institutional investors and hedge funds.

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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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