ABIOMED (NASDAQ:ABMD) Downgraded by Guggenheim

Guggenheim downgraded shares of ABIOMED (NASDAQ:ABMD) from a buy rating to a neutral rating in a research note issued to investors on Friday, BenzingaRatingsTable reports.

A number of other research firms have also recently issued reports on ABMD. BidaskClub upgraded ABIOMED from a strong sell rating to a sell rating in a report on Wednesday, July 24th. Morgan Stanley cut 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. ValuEngine cut ABIOMED from a hold rating to a sell rating in a report on Tuesday, May 7th. BTIG Research cut ABIOMED from a buy rating to a neutral rating in a report on Thursday, August 1st. Finally, Zacks Investment Research cut ABIOMED from a hold rating to a sell rating in a report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. ABIOMED presently has a consensus rating of Hold and an average target price of $316.50.

ABIOMED stock opened at $204.53 on Friday. The company has a market cap of $9.08 billion, a PE ratio of 52.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.31. ABIOMED has a 52-week low of $197.01 and a 52-week high of $459.75. The stock’s 50 day simple moving average is $256.16.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01. The firm had revenue of $207.70 million for the quarter, compared to analysts’ expectations of $210.96 million. ABIOMED had a return on equity of 19.84% and a net margin of 32.35%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.95 EPS. On average, sell-side analysts anticipate that ABIOMED will post 4.41 earnings per share for the current year.

In related news, Director Martin P. Sutter sold 4,664 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $259.97, for a total value of $1,212,500.08. Following the transaction, the director now directly owns 192,550 shares in the company, valued at approximately $50,057,223.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bremer Bank National Association bought a new position in shares of ABIOMED in the 1st quarter worth $27,000. Sterling Investment Advisors Ltd. lifted its holdings in shares of ABIOMED by 233.3% in the 1st 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 in the last quarter. Executive Wealth Management LLC lifted its holdings in shares of ABIOMED by 100.0% in the 2nd quarter. Executive Wealth Management LLC now owns 100 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of ABIOMED in the 1st quarter worth $40,000. Finally, Tompkins Financial Corp bought a new position in shares of ABIOMED in the 2nd quarter worth $39,000. Institutional investors own 87.90% of the company’s stock.

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.

Further Reading: Why do analysts give a neutral rating?

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