ABIOMED (NASDAQ:ABMD) Rating Increased to Buy at ValuEngine – Riverton Roll

ABIOMED (NASDAQ:ABMD) was upgraded by ValuEngine from a hold rating to a buy rating in a report issued on Saturday, ValuEngine reports.

Other equities research analysts have also issued reports about the stock. Morgan Stanley decreased their price objective on shares of ABIOMED from $215.00 to $198.00 and set an equal weight rating on the stock in a research report on Tuesday, December 17th. BidaskClub upgraded shares of ABIOMED from a sell rating to a hold rating in a research report on Friday, January 17th. Leerink Swann boosted their price objective on shares of ABIOMED from $195.00 to $240.00 and gave the stock an outperform rating in a research report on Friday, November 1st. Finally, Raymond James lowered shares of ABIOMED from an outperform rating to a market perform rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $272.25.

ABIOMED stock opened at $186.29 on Friday. ABIOMED has a 52 week low of $155.02 and a 52 week high of $364.31. The firms 50-day simple moving average is $177.20 and its 200 day simple moving average is $193.64. The firm has a market capitalization of $8.42 billion, a PE ratio of 38.97, a P/E/G ratio of 1.68 and a beta of 0.28.

ABIOMED (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, October 31st. The medical equipment provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. ABIOMED had a net margin of 26.92% and a return on equity of 19.89%. The business had revenue of $204.97 million for the quarter, compared to analyst estimates of $206.45 million. During the same period in the previous year, the firm earned $1.09 EPS. The businesss revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts forecast that ABIOMED will post 4.33 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Beacon Investment Advisory Services Inc. lifted its holdings in ABIOMED by 2,764.9% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 72,338 shares of the medical equipment providers stock valued at $12,340,000 after purchasing an additional 69,813 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in ABIOMED by 21.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 174,818 shares of the medical equipment providers stock valued at $29,822,000 after purchasing an additional 31,257 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in ABIOMED by 7.6% in the 4th quarter. Russell Investments Group Ltd. now owns 19,629 shares of the medical equipment providers stock valued at $3,300,000 after purchasing an additional 1,385 shares in the last quarter. Brookstone Capital Management lifted its holdings in ABIOMED by 3.8% in the 4th quarter. Brookstone Capital Management now owns 2,511 shares of the medical equipment providers stock valued at $428,000 after purchasing an additional 92 shares in the last quarter. Finally, Conning Inc. purchased a new position in ABIOMED in the 4th quarter valued at about $299,000. Institutional investors own 90.07% of the companys 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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ABIOMED (NASDAQ:ABMD) Rating Increased to Buy at ValuEngine - Riverton Roll