ABIOMED (NASDAQ:ABMD) Downgraded 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 Thursday morning, BidAskClub reports.

Other research analysts also recently issued reports about the company. ValuEngine downgraded Whiting USA Trust II from a hold rating to a sell rating in a research note on Tuesday, May 7th. Zacks Investment Research downgraded Haynes International from a hold rating to a sell rating in a research note on Wednesday, May 8th. BTIG Research reiterated a buy rating on shares of ABIOMED in a research note on Tuesday, May 7th. Finally, SunTrust Banks lifted their target price on Paylocity to $108.00 and gave the stock a positive rating in a research note on Friday, May 3rd. Three analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. ABIOMED has a consensus rating of Hold and an average price target of $378.00.

ABMD stock opened at $260.47 on Thursday. The company has a 50 day moving average of $260.35. The company has a market capitalization of $11.79 billion, a P/E ratio of 72.35, a price-to-earnings-growth ratio of 2.08 and a beta of 0.32. ABIOMED has a twelve month low of $228.00 and a twelve month high of $459.75.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.53. The firm had revenue of $207.08 million during the quarter, compared to the consensus estimate of $218.88 million. ABIOMED had a return on equity of 20.32% and a net margin of 33.66%. The business’s revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. Sell-side analysts predict that ABIOMED will post 4.48 earnings per share for the current fiscal year.

In related news, Director Martin P. Sutter sold 4,664 shares of ABIOMED stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $259.97, for a total transaction of $1,212,500.08. Following the completion of the sale, the director now directly owns 192,550 shares of the company’s stock, valued at approximately $50,057,223.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. lifted its holdings in ABIOMED by 314.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 648,206 shares of the medical equipment provider’s stock worth $185,120,000 after purchasing an additional 491,750 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in ABIOMED by 78.6% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,934 shares of the medical equipment provider’s stock valued at $3,980,000 after acquiring an additional 6,134 shares in the last quarter. American International Group Inc. raised its holdings in 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 acquiring an additional 1,256 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in 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 acquiring an additional 27,910 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in ABIOMED by 36.6% in the 1st quarter. Marshall Wace LLP now owns 4,549 shares of the medical equipment provider’s stock valued at $1,299,000 after acquiring an additional 1,219 shares in the last quarter. 86.79% 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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