According to Zacks, “ABIOMED continues to gain from its flagship Impella, which performed strongly in the United States recently. Impella’s patient success stories and increasing global adoption are added positives. The recent CE Mark for Impella Connect is a major positive. Revenues from Japan also shot up recently. Meanwhile, a raised guidance for fiscal 2019 is indicative of brighter prospects. Considerable expansion in the operating margin buoys optimism. Meanwhile, surging R&D expenses show increasing focus on innovation. In fact, the company continues to invest in training and education. On the flip side, contraction in ABIOMED’s gross margin is concerning. Margins have been primarily hurt by unfavorable sales mix and heavy manufacturing investments. Intense competition in the MedTech industry adds to the woes. ABIOMED has underperformed the industry in a year’s time.”
ABMD has been the topic of several other reports. BidaskClub lowered ABIOMED from a sell rating to a strong sell rating in a report on Saturday. ValuEngine lowered ABIOMED from a buy rating to a hold rating in a report on Wednesday, February 27th. Morgan Stanley reduced their target price on ABIOMED from $496.00 to $461.00 and set an overweight rating on the stock in a report on Wednesday, January 2nd. Finally, BTIG Research reiterated a buy rating and set a $400.00 target price on shares of ABIOMED in a report on Tuesday, January 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. ABIOMED presently has a consensus rating of Hold and a consensus price target of $422.40.
NASDAQ:ABMD opened at $265.95 on Tuesday. ABIOMED has a 12-month low of $264.54 and a 12-month high of $459.75. The firm has a market capitalization of $12.28 billion, a PE ratio of 81.04, a P/E/G ratio of 1.99 and a beta of 0.33.
ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, January 31st. The medical equipment provider reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The firm had revenue of $200.56 million for the quarter, compared to analyst estimates of $200.60 million. ABIOMED had a return on equity of 20.31% and a net margin of 30.12%. On average, research analysts anticipate that ABIOMED will post 3.59 earnings per share for the current fiscal year.
In other ABIOMED news, Director Martin P. Sutter sold 19,943 shares of ABIOMED stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $350.28, for a total value of $6,985,634.04. Following the sale, the director now owns 212,943 shares of the company’s stock, valued at approximately $74,589,674.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David M. Weber sold 24,000 shares of ABIOMED stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $351.47, for a total value of $8,435,280.00. Following the completion of the sale, the chief operating officer now directly owns 161,842 shares in the company, valued at approximately $56,882,607.74. The disclosure for this sale can be found here. Insiders sold a total of 74,928 shares of company stock worth $26,515,812 in the last three months. Company insiders own 3.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. QS Investors LLC raised its stake in shares of ABIOMED by 447.0% in the 4th quarter. QS Investors LLC now owns 7,954 shares of the medical equipment provider’s stock valued at $2,586,000 after purchasing an additional 6,500 shares during the period. NEXT Financial Group Inc raised its stake in shares of ABIOMED by 98.0% in the 4th quarter. NEXT Financial Group Inc now owns 505 shares of the medical equipment provider’s stock valued at $164,000 after purchasing an additional 250 shares during the period. American International Group Inc. raised its stake in shares of ABIOMED by 8.0% in the 4th quarter. American International Group Inc. now owns 17,054 shares of the medical equipment provider’s stock valued at $5,543,000 after purchasing an additional 1,256 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of ABIOMED by 174.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 43,895 shares of the medical equipment provider’s stock valued at $14,767,000 after purchasing an additional 27,910 shares during the period. Finally, Rhenman & Partners Asset Management AB raised its stake in shares of ABIOMED by 17.3% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 65,310 shares of the medical equipment provider’s stock valued at $21,228,000 after purchasing an additional 9,609 shares during the period. 87.94% of the stock is currently owned by hedge funds and other institutional investors.
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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