Abiomed (NASDAQ:ABMD – Get Rating) was downgraded by stock analysts at William Blair from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, The Fly reports.
Several other research firms have also recently commented on ABMD. Morgan Stanley cut their price target on Abiomed from $275.00 to $235.00 and set an “underweight” rating for the company in a report on Friday, July 15th. StockNews.com began coverage on Abiomed in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Piper Sandler lowered Abiomed from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $350.00 to $380.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price objective on Abiomed from $410.00 to $355.00 in a research report on Thursday, July 21st. Finally, Mizuho began coverage on Abiomed in a research report on Wednesday, October 12th. They issued a “buy” rating and a $300.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $320.83.
Abiomed Price Performance
Shares of NASDAQ:ABMD traded up $125.74 during midday trading on Tuesday, hitting $377.82. The company had a trading volume of 6,997,479 shares, compared to its average volume of 352,232. Abiomed has a twelve month low of $219.85 and a twelve month high of $381.99. The stock has a market cap of $17.24 billion, a price-to-earnings ratio of 79.71, a price-to-earnings-growth ratio of 2.14 and a beta of 1.32. The business’s 50-day simple moving average is $258.86 and its 200-day simple moving average is $265.07.
Abiomed (NASDAQ:ABMD – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The medical equipment provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. Abiomed had a return on equity of 14.33% and a net margin of 20.60%. The firm had revenue of $277.15 million during the quarter, compared to analysts’ expectations of $276.46 million. During the same quarter last year, the firm earned $1.10 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that Abiomed will post 4.82 EPS for the current year.
Insider Activity
In other news, VP Marc A. Began sold 500 shares of Abiomed stock in a transaction on Monday, August 29th. The stock was sold at an average price of $255.95, for a total value of $127,975.00. Following the completion of the sale, the vice president now directly owns 15,785 shares of the company’s stock, valued at $4,040,170.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Todd A. Trapp sold 1,000 shares of Abiomed stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 16,927 shares of the company’s stock, valued at $5,078,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Marc A. Began sold 500 shares of Abiomed stock in a transaction on Monday, August 29th. The shares were sold at an average price of $255.95, for a total value of $127,975.00. Following the completion of the sale, the vice president now directly owns 15,785 shares of the company’s stock, valued at $4,040,170.75. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Abiomed by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,911,337 shares of the medical equipment provider’s stock worth $1,626,831,000 after purchasing an additional 68,353 shares in the last quarter. State Street Corp grew its stake in Abiomed by 3.5% during the 2nd quarter. State Street Corp now owns 2,086,770 shares of the medical equipment provider’s stock worth $516,496,000 after purchasing an additional 70,134 shares in the last quarter. Renaissance Technologies LLC grew its stake in Abiomed by 2.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,446,523 shares of the medical equipment provider’s stock worth $358,029,000 after purchasing an additional 32,323 shares in the last quarter. William Blair Investment Management LLC grew its stake in Abiomed by 7.0% during the 2nd quarter. William Blair Investment Management LLC now owns 978,158 shares of the medical equipment provider’s stock worth $242,104,000 after purchasing an additional 64,350 shares in the last quarter. Finally, Winslow Capital Management LLC acquired a new position in Abiomed during the 1st quarter worth $299,619,000. 92.96% of the stock is owned by institutional investors and hedge funds.
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 a continuum of care to heart failure patients. The company offers Impella 2.5, a percutaneous micro heart pump with integrated motor and sensors; and Impella CP, a device for use by interventional cardiologists to support patients in the cath lab, as well as by cardiac surgeons in the heart surgery suite.