ABIOMED (NASDAQ:ABMD) Downgraded by BidaskClub

BidaskClub lowered shares of ABIOMED (NASDAQ:ABMD) from a sell rating to a strong sell rating in a research note issued to investors on Thursday, BidAskClub reports.

A number of other equities analysts have also recently commented on the stock. SunTrust Banks lifted their price objective on shares of Paylocity to $108.00 and gave the stock a positive rating in a research report on Friday, May 3rd. ValuEngine cut shares of Whiting USA Trust II from a hold rating to a sell rating in a research report on Tuesday, May 7th. BTIG Research reaffirmed a buy rating on shares of ABIOMED in a research report on Tuesday, May 7th. Finally, Zacks Investment Research cut shares of Haynes International from a hold rating to a sell rating in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $378.00.

Shares of ABMD opened at $260.47 on Thursday. The firm has a market capitalization of $11.79 billion, a P/E ratio of 71.75, a price-to-earnings-growth ratio of 2.08 and a beta of 0.32. ABIOMED has a 1-year low of $228.00 and a 1-year high of $459.75. The stock’s fifty day moving average price is $260.35.

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

In other news, Director Martin P. Sutter sold 4,664 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $259.97, for a total value of $1,212,500.08. Following the completion of the sale, the director now owns 192,550 shares of the company’s stock, valued at $50,057,223.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Sontag Advisory LLC bought a new stake in ABIOMED during the fourth quarter worth about $25,000. Bremer Bank National Association bought a new stake in ABIOMED during the first quarter worth about $27,000. Sterling Investment Advisors Ltd. lifted its position in ABIOMED by 233.3% during the first quarter. Sterling Investment Advisors Ltd. now owns 100 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 70 shares during the period. Captrust Financial Advisors lifted its position in ABIOMED by 1,187.5% during the fourth quarter. Captrust Financial Advisors now owns 103 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 95 shares during the period. Finally, Tompkins Financial Corp bought a new stake in ABIOMED during the second quarter worth about $39,000. 86.79% of the stock is owned by institutional investors.

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: Real Estate Investment Trust (REIT) ETF

Receive News & Ratings for ABIOMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABIOMED and related companies with MarketBeat.com's FREE daily email newsletter.