Brokerages Set ABIOMED, Inc. (NASDAQ:ABMD) Target Price at $186.40

ABIOMED, Inc. (NASDAQ:ABMD) has earned a consensus recommendation of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $186.40.

A number of equities analysts have weighed in on the company. SVB Leerink upped their price target on ABIOMED from $195.00 to $225.00 and gave the stock a “market perform” rating in a research report on Thursday, May 28th. Zacks Investment Research lowered ABIOMED from a “hold” rating to a “sell” rating and set a $160.00 price objective on the stock. in a research note on Wednesday, April 8th. BTIG Research lowered shares of ABIOMED to a “hold” rating in a research note on Wednesday, May 27th. OTR Global upgraded ABIOMED to a “positive” rating in a research report on Monday, July 13th. Finally, Morgan Stanley raised their price target on shares of ABIOMED from $149.00 to $152.00 and gave the stock an “underweight” rating in a research report on Friday, May 1st.

NASDAQ:ABMD opened at $299.94 on Tuesday. ABIOMED has a 12-month low of $119.01 and a 12-month high of $302.97. The firm has a market capitalization of $13.51 billion, a P/E ratio of 67.86, a P/E/G ratio of 4.79 and a beta of 0.94. The stock’s fifty day simple moving average is $265.61 and its 200-day simple moving average is $198.10.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.26). ABIOMED had a return on equity of 18.51% and a net margin of 24.14%. The business had revenue of $206.66 million for the quarter, compared to analyst estimates of $209.58 million. During the same period in the previous year, the business posted $1.60 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. On average, sell-side analysts predict that ABIOMED will post 3.21 earnings per share for the current year.

In other news, Director Dorothy E. Puhy sold 7,500 shares of the stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $275.00, for a total value of $2,062,500.00. Following the completion of the transaction, the director now directly owns 7,652 shares in the company, valued at approximately $2,104,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank boosted its stake in shares of ABIOMED by 0.8% during the second quarter. Comerica Bank now owns 8,906 shares of the medical equipment provider’s stock valued at $2,647,000 after purchasing an additional 74 shares in the last quarter. Prudential PLC acquired a new position in ABIOMED in the 2nd quarter valued at approximately $831,000. UBS Group AG lifted its holdings in shares of ABIOMED by 82.8% during the second quarter. UBS Group AG now owns 38,125 shares of the medical equipment provider’s stock worth $9,209,000 after purchasing an additional 17,274 shares during the period. Mackay Shields LLC lifted its holdings in shares of ABIOMED by 3.5% during the second quarter. Mackay Shields LLC now owns 7,251 shares of the medical equipment provider’s stock worth $1,751,000 after purchasing an additional 242 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in ABIOMED by 3.0% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 16,960 shares of the medical equipment provider’s stock worth $4,096,000 after purchasing an additional 490 shares during the last quarter. 94.43% 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 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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