ABIOMED (ABMD) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of ABIOMED (NASDAQ:ABMD) from a buy rating to a hold rating in a research report released on Tuesday morning.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut ABIOMED from a buy rating to a hold rating in a report on Tuesday, July 31st. BTIG Research upgraded ABIOMED from a neutral rating to a buy rating and set a $450.00 target price on the stock in a report on Friday, November 2nd. Morgan Stanley lifted their target price on ABIOMED from $370.00 to $396.00 and gave the company an equal weight rating in a report on Thursday, October 11th. Finally, BidaskClub upgraded ABIOMED from a hold rating to a buy rating in a report on Wednesday, September 5th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $402.78.

ABMD stock opened at $299.41 on Tuesday. ABIOMED has a 52-week low of $186.72 and a 52-week high of $459.75. The firm has a market cap of $13.58 billion, a PE ratio of 122.21, a price-to-earnings-growth ratio of 2.46 and a beta of 0.35.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.36. ABIOMED had a return on equity of 20.09% and a net margin of 27.60%. The business had revenue of $181.78 million for the quarter, compared to analysts’ expectations of $175.41 million. During the same quarter last year, the firm earned $0.54 earnings per share. The business’s revenue was up 36.9% on a year-over-year basis. Research analysts expect that ABIOMED will post 3.57 EPS for the current fiscal year.

In related news, VP Michael G. Howley sold 10,000 shares of ABIOMED stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $432.50, for a total value of $4,325,000.00. Following the transaction, the vice president now owns 48,954 shares in the company, valued at $21,172,605. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew J. Greenfield sold 4,440 shares of ABIOMED stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $395.00, for a total value of $1,753,800.00. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. NEXT Financial Group Inc purchased a new position in ABIOMED in the third quarter valued at about $115,000. Migdal Insurance & Financial Holdings Ltd. raised its position in ABIOMED by 160.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 320 shares of the medical equipment provider’s stock valued at $144,000 after purchasing an additional 197 shares during the period. TRUE Private Wealth Advisors purchased a new position in ABIOMED in the third quarter valued at about $162,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in ABIOMED in the second quarter valued at about $164,000. Finally, Rampart Investment Management Company LLC purchased a new position in ABIOMED in the second quarter valued at about $175,000. 84.88% of the stock is currently owned by 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; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ABIOMED (NASDAQ:ABMD)

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