ABIOMED (ABMD) Upgraded by Morgan Stanley to Weight

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Morgan Stanley upgraded shares of ABIOMED (NASDAQ:ABMD) from an equal rating to a weight rating in a report issued on Wednesday, Marketbeat reports. Morgan Stanley currently has $496.00 target price on the medical equipment provider’s stock, up from their previous target price of $396.00.

Several other equities research analysts have also recently issued reports on the stock. BidaskClub raised shares of ABIOMED from a hold rating to a buy rating in a research note on Wednesday, September 5th. Zacks Investment Research raised shares of ABIOMED from a hold rating to a buy rating and set a $457.00 target price on the stock in a research note on Tuesday, July 10th. BTIG Research raised shares of ABIOMED from a neutral rating to a buy rating and set a $450.00 target price on the stock in a research note on Friday, November 2nd. Finally, ValuEngine cut shares of ABIOMED from a strong-buy rating to a buy rating in a research note on Saturday, August 18th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $402.78.

ABIOMED stock traded up $2.17 during trading on Wednesday, reaching $414.27. The company had a trading volume of 349,406 shares, compared to its average volume of 738,364. ABIOMED has a 1-year low of $186.72 and a 1-year high of $459.75. The stock has a market capitalization of $17.50 billion, a P/E ratio of 169.09, a P/E/G ratio of 3.18 and a beta of 0.35.

ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.36. ABIOMED had a net margin of 27.60% and a return on equity of 20.09%. The firm had revenue of $181.78 million for the quarter, compared to analysts’ expectations of $175.41 million. During the same quarter last year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, sell-side analysts predict that ABIOMED will post 3.57 EPS for the current fiscal year.

In other news, VP Andrew J. Greenfield sold 4,440 shares of ABIOMED stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $395.00, for a total transaction of $1,753,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 approximately $21,172,605. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. raised its holdings in ABIOMED by 2.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 5,708 shares of the medical equipment provider’s stock valued at $2,567,000 after buying an additional 122 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in ABIOMED by 1.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 9,139 shares of the medical equipment provider’s stock valued at $3,738,000 after buying an additional 146 shares during the period. World Asset Management Inc raised its holdings in ABIOMED by 5.2% in the 3rd quarter. World Asset Management Inc now owns 2,976 shares of the medical equipment provider’s stock valued at $1,338,000 after buying an additional 146 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in ABIOMED by 5.5% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 2,840 shares of the medical equipment provider’s stock valued at $1,277,000 after buying an additional 147 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in ABIOMED by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,856 shares of the medical equipment provider’s stock valued at $1,734,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 87.14% 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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