Piper Sandler restated their buy rating on shares of ABIOMED (NASDAQ:ABMD) in a research note issued to investors on Monday, TipRanks reports. They currently have a $240.00 price target on the medical equipment provider’s stock.
Other equities research analysts have also recently issued research reports about the stock. BidaskClub raised shares of ABIOMED from a sell rating to a hold rating in a research note on Friday, January 17th. ValuEngine raised shares of ABIOMED from a buy rating to a strong-buy rating in a research note on Monday, March 9th. Morgan Stanley cut shares of ABIOMED from an equal weight rating to an underweight rating and lowered their target price for the stock from $198.00 to $165.00 in a research note on Tuesday, February 11th. BTIG Research began coverage on ABIOMED in a report on Thursday, February 6th. They set a hold rating on the stock. Finally, Stephens reduced their price target on ABIOMED from $240.00 to $155.00 and set an overweight rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $241.83.
Shares of ABMD opened at $149.17 on Monday. ABIOMED has a 52-week low of $119.01 and a 52-week high of $293.44. The firm’s fifty day moving average is $157.11 and its two-hundred day moving average is $177.84. The stock has a market cap of $6.62 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 1.66 and a beta of 0.60.
ABIOMED (NASDAQ:ABMD) last announced its earnings results on Thursday, February 6th. The medical equipment provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.42. ABIOMED had a net margin of 29.14% and a return on equity of 19.53%. The company had revenue of $221.60 million for the quarter, compared to analysts’ expectations of $226.92 million. During the same quarter in the previous year, the company posted $0.97 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts predict that ABIOMED will post 4.12 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of ABMD. FMR LLC raised its holdings 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 acquiring an additional 22,940 shares during the period. First Trust Advisors LP raised its holdings in ABIOMED by 36.8% in the 3rd quarter. First Trust Advisors LP now owns 2,776 shares of the medical equipment provider’s stock valued at $494,000 after buying an additional 747 shares during the period. Redpoint Investment Management Pty Ltd raised its holdings in ABIOMED by 6.7% in the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 3,880 shares of the medical equipment provider’s stock valued at $690,000 after buying an additional 242 shares during the period. State Street Corp raised its holdings in ABIOMED by 4.9% in the 3rd quarter. State Street Corp now owns 1,981,238 shares of the medical equipment provider’s stock valued at $352,442,000 after buying an additional 93,165 shares during the period. Finally, Virtu Financial LLC purchased a new stake in ABIOMED in the 3rd quarter valued at about $564,000. Institutional investors and hedge funds own 98.17% of the company’s stock.
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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