ABIOMED (ABMD) Rating Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of ABIOMED (NASDAQ:ABMD) from a sell rating to a strong sell rating in a research note released on Saturday morning, BidAskClub reports.

ABMD has been the topic of several other reports. Zacks Investment Research upgraded ABIOMED from a hold rating to a buy rating and set a $370.00 target price on the stock in a research report on Friday, January 18th. ValuEngine cut ABIOMED from a buy rating to a hold rating in a research report on Wednesday, February 27th. Finally, Morgan Stanley lowered their target price on ABIOMED from $496.00 to $461.00 and set an overweight rating on the stock in a research report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $422.40.

ABMD opened at $272.30 on Friday. ABIOMED has a 12 month low of $267.60 and a 12 month high of $459.75. The company has a market capitalization of $12.26 billion, a P/E ratio of 111.14, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. ABIOMED had a return on equity of 20.31% and a net margin of 30.12%. The firm had revenue of $200.56 million for the quarter, compared to analysts’ expectations of $200.60 million. Equities analysts anticipate that ABIOMED will post 3.83 earnings per share for the current year.

In other news, Director Martin P. Sutter sold 5,985 shares of ABIOMED stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $349.49, for a total transaction of $2,091,697.65. Following the transaction, the director now directly owns 212,943 shares in the company, valued at approximately $74,421,449.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Martin P. Sutter sold 5,000 shares of ABIOMED stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $360.00, for a total value of $1,800,000.00. Following the transaction, the director now owns 195,491 shares in the company, valued at $70,376,760. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,928 shares of company stock worth $26,515,812. 3.50% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Flagship Harbor Advisors LLC increased its position in shares of ABIOMED by 8.9% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,930 shares of the medical equipment provider’s stock valued at $551,000 after purchasing an additional 157 shares during the period. Ropes Wealth Advisors LLC increased its position in shares of ABIOMED by 864.5% during the 1st quarter. Ropes Wealth Advisors LLC now owns 299 shares of the medical equipment provider’s stock valued at $85,000 after purchasing an additional 268 shares during the period. Sciencast Management LP acquired a new position in shares of ABIOMED during the 1st quarter valued at $1,220,000. Retirement Systems of Alabama increased its position in shares of ABIOMED by 2.4% during the 1st quarter. Retirement Systems of Alabama now owns 89,623 shares of the medical equipment provider’s stock valued at $25,595,000 after purchasing an additional 2,081 shares during the period. Finally, Scout Investments Inc. increased its position in shares of ABIOMED by 20.3% during the 1st quarter. Scout Investments Inc. now owns 116,812 shares of the medical equipment provider’s stock valued at $33,360,000 after purchasing an additional 19,751 shares during the period. Institutional investors own 87.94% of the company’s stock.

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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