ABIOMED, Inc. (NASDAQ:ABMD) has received an average recommendation of "Hold" from the eleven analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $221.40.
A number of research firms have recently issued reports on ABMD. OTR Global upgraded ABIOMED to a "positive" rating in a report on Monday, July 13th. Morgan Stanley increased their target price on ABIOMED from $152.00 to $217.00 and gave the company an "underweight" rating in a report on Friday, August 7th. BTIG Research cut ABIOMED to a "hold" rating in a report on Wednesday, May 27th. SVB Leerink increased their target price on ABIOMED from $280.00 to $335.00 and gave the company a "market perform" rating in a report on Friday, August 7th. Finally, BidaskClub cut ABIOMED from a "buy" rating to a "hold" rating in a report on Tuesday, August 25th.
In related news, Director Dorothy E. Puhy sold 7,500 shares of the company's stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $275.00, for a total value of $2,062,500.00. Following the transaction, the director now owns 7,652 shares in the company, valued at approximately $2,104,300. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael R. Minogue sold 100,000 shares of the company's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $309.12, for a total transaction of $30,912,000.00. In the last quarter, insiders sold 110,250 shares of company stock worth $33,815,313. 3.40% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ABMD. FMR LLC lifted its stake in ABIOMED by 287.2% during the first quarter. FMR LLC now owns 30,927 shares of the medical equipment provider's stock worth $8,833,000 after purchasing an additional 22,940 shares in the last quarter. UBS Group AG lifted its stake in ABIOMED by 80.5% in the first quarter. UBS Group AG now owns 20,851 shares of the medical equipment provider's stock valued at $3,027,000 after buying an additional 9,297 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in ABIOMED by 2.3% in the first quarter. Public Employees Retirement Association of Colorado now owns 6,598 shares of the medical equipment provider's stock valued at $958,000 after buying an additional 146 shares during the last quarter. Fifth Third Bancorp lifted its stake in ABIOMED by 12.5% in the first quarter. Fifth Third Bancorp now owns 550 shares of the medical equipment provider's stock valued at $80,000 after buying an additional 61 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in ABIOMED by 3.2% in the first quarter. Rhumbline Advisers now owns 95,006 shares of the medical equipment provider's stock valued at $13,791,000 after buying an additional 2,982 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.
NASDAQ:ABMD opened at $279.16 on Wednesday. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 80.45, a price-to-earnings-growth ratio of 3.49 and a beta of 1.14. ABIOMED has a 52 week low of $119.01 and a 52 week high of $319.19. The firm has a 50-day moving average price of $298.46 and a two-hundred day moving average price of $225.69.
ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, August 6th. The medical equipment provider reported $0.58 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.20 by $0.38. ABIOMED had a net margin of 19.88% and a return on equity of 16.17%. The firm had revenue of $164.90 million during the quarter, compared to the consensus estimate of $144.12 million. During the same period in the prior year, the firm earned $1.00 EPS. The company's revenue was down 20.6% compared to the same quarter last year. Analysts expect that ABIOMED will post 3.85 earnings per share for the current year.
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.
Recommended Story: What is quantitative easing?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Stocks That Risk-Averse Investors Can Buy Now
If the title of this presentation piqued your interest, then you understand that there’s no such thing as risk-free investing. And that’s particularly true when you’re investing in stocks. The truth is sometimes the best thing that can happen is that your portfolio performs less badly than the market.
The goal of the risk-averse investor is not to avoid stocks, it’s to ensure that you retain the capital you gain, even if that means your portfolio does not grow as fast or as far as more aggressive stocks. You have to have a very low FOMO (fear of missing out) level.
With that in mind, there are still ways you can profit from this market without throwing caution to the wind. One is to look for stocks that have a low beta. Beta is a measure of a stock’s volatility in comparison to the rest of the market. A stock with a beta of 1, for example, means that investors can expect the price movement of the stock to be closely correlated to the market. A beta of more than 1 means the stock price will be more volatile (higher highs but lower lows).
What you’re looking for is a beta of less than 1. This means that the stock is less volatile than the broader market. While this may mean lower highs, it also generally means lower lows.
And many of these stocks are in defensive sectors. This means that their performance is consistent under both good and bad economic conditions.
View the "7 Stocks That Risk-Averse Investors Can Buy Now".