BidaskClub Upgrades ABIOMED (NASDAQ:ABMD) to “Hold”

BidaskClub upgraded shares of ABIOMED (NASDAQ:ABMD) from a sell rating to a hold rating in a research report report published on Thursday, BidAskClub reports.

Other analysts have also recently issued research reports about the company. Raymond James cut ABIOMED from an outperform rating to a market perform rating in a report on Tuesday, October 29th. Guggenheim cut ABIOMED from a buy rating to a neutral rating in a report on Friday, August 2nd. TheStreet cut ABIOMED from a b- rating to a c+ rating in a report on Thursday, August 22nd. Morgan Stanley cut ABIOMED from an overweight rating to an equal weight rating and lowered their price target for the company from $325.00 to $215.00 in a report on Thursday, August 1st. Finally, ValuEngine upgraded ABIOMED from a sell rating to a hold rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. ABIOMED currently has an average rating of Hold and a consensus target price of $301.20.

ABIOMED stock traded up $0.49 during midday trading on Thursday, reaching $219.62. The company’s stock had a trading volume of 385,600 shares, compared to its average volume of 641,749. The firm has a market capitalization of $9.82 billion, a PE ratio of 61.01, a P/E/G ratio of 1.90 and a beta of 0.37. The stock’s 50 day simple moving average is $183.43 and its 200 day simple moving average is $225.93. ABIOMED has a fifty-two week low of $155.02 and a fifty-two week high of $413.32.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, October 31st. The medical equipment provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.93 by $0.10. The company had revenue of $204.97 million during the quarter, compared to analysts’ expectations of $206.45 million. ABIOMED had a return on equity of 19.89% and a net margin of 26.92%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, equities analysts predict that ABIOMED will post 4.32 EPS for the current year.

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Several large investors have recently modified their holdings of the company. Executive Wealth Management LLC grew its holdings in shares of ABIOMED by 100.0% during the 2nd quarter. Executive Wealth Management LLC now owns 100 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 50 shares during the period. World Asset Management Inc lifted its position in ABIOMED by 2.0% during the 2nd quarter. World Asset Management Inc now owns 2,922 shares of the medical equipment provider’s stock worth $761,000 after acquiring an additional 56 shares in the last quarter. Meridian Wealth Management LLC lifted its position in ABIOMED by 53.6% during the 2nd quarter. Meridian Wealth Management LLC now owns 215 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 75 shares in the last quarter. CIBC Asset Management Inc lifted its position in ABIOMED by 2.1% during the 2nd quarter. CIBC Asset Management Inc now owns 4,093 shares of the medical equipment provider’s stock worth $1,066,000 after acquiring an additional 85 shares in the last quarter. Finally, Tyers Asset Management LLC lifted its position in ABIOMED by 5.8% during the 2nd quarter. Tyers Asset Management LLC now owns 1,760 shares of the medical equipment provider’s stock worth $458,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 91.19% of the company’s stock.

About ABIOMED

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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Analyst Recommendations for ABIOMED (NASDAQ:ABMD)

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