ABIOMED (NASDAQ:ABMD) Lifted to Sell at BidaskClub

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

Other analysts also recently issued research reports about the company. Morgan Stanley downgraded ABIOMED from an overweight rating to an equal weight rating and cut their price target for the stock from $325.00 to $215.00 in a report on Thursday, August 1st. TheStreet downgraded ABIOMED from a b- rating to a c+ rating in a report on Thursday, August 22nd. ValuEngine raised ABIOMED from a sell rating to a hold rating in a report on Wednesday, September 4th. BTIG Research downgraded ABIOMED from a buy rating to a neutral rating in a report on Thursday, August 1st. Finally, Guggenheim downgraded ABIOMED from a buy rating to a neutral rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. ABIOMED has an average rating of Hold and an average target price of $316.50.

Shares of NASDAQ ABMD opened at $175.30 on Tuesday. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 45.85, a price-to-earnings-growth ratio of 1.53 and a beta of 0.41. ABIOMED has a 12-month low of $155.02 and a 12-month high of $427.70. The stock’s 50 day simple moving average is $180.91 and its 200 day simple moving average is $234.19.

ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.01. The business had revenue of $207.70 million for the quarter, compared to the consensus estimate of $210.96 million. ABIOMED had a return on equity of 19.84% and a net margin of 32.35%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted $1.95 EPS. Equities research analysts forecast that ABIOMED will post 4.27 earnings per share for the current year.

In other ABIOMED news, COO David M. Weber sold 8,095 shares of ABIOMED stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.26, for a total transaction of $1,669,674.70. Following the sale, the chief operating officer now owns 132,913 shares of the company’s stock, valued at approximately $27,414,635.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Executive Wealth Management LLC raised its stake in ABIOMED by 100.0% during the 2nd quarter. Executive Wealth Management LLC now owns 100 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. World Asset Management Inc raised its stake in ABIOMED by 2.0% during the 2nd quarter. World Asset Management Inc now owns 2,922 shares of the medical equipment provider’s stock valued at $761,000 after acquiring an additional 56 shares in the last quarter. Meridian Wealth Management LLC raised its stake in ABIOMED by 53.6% during the 2nd quarter. Meridian Wealth Management LLC now owns 215 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 75 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of ABIOMED by 2.1% in the 2nd quarter. CIBC Asset Management Inc now owns 4,093 shares of the medical equipment provider’s stock worth $1,066,000 after buying an additional 85 shares in the last quarter. Finally, Tyers Asset Management LLC raised its stake in shares of ABIOMED by 5.8% in the 2nd quarter. Tyers Asset Management LLC now owns 1,760 shares of the medical equipment provider’s stock worth $458,000 after buying an additional 96 shares in the last quarter. 90.97% of the stock is currently owned by hedge funds and other institutional investors.

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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