William Blair Reaffirms “Buy” Rating for ABIOMED (NASDAQ:ABMD)

William Blair restated their buy rating on shares of ABIOMED (NASDAQ:ABMD) in a research note published on Friday morning, TipRanks reports. William Blair also issued estimates for ABIOMED’s FY2021 earnings at $5.17 EPS.

ABMD has been the topic of several other research reports. Morgan Stanley lowered ABIOMED from an overweight rating to an equal weight rating and dropped their price objective for the stock from $325.00 to $215.00 in a report on Thursday, August 1st. Guggenheim lowered ABIOMED from a buy rating to a neutral rating in a report on Friday. ValuEngine lowered ABIOMED from a hold rating to a sell rating in a report on Tuesday, May 7th. BidaskClub raised ABIOMED from a strong sell rating to a sell rating in a report on Wednesday, July 24th. Finally, SunTrust Banks reissued a buy rating and set a $340.00 price target on shares of ABIOMED in a report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. ABIOMED has a consensus rating of Hold and a consensus target price of $316.50.

Shares of ABMD stock traded down $4.18 during mid-day trading on Friday, hitting $200.35. 57,599 shares of the stock were exchanged, compared to its average volume of 623,944. The firm’s fifty day moving average price is $256.16. The company has a market capitalization of $9.26 billion, a PE ratio of 55.69, a price-to-earnings-growth ratio of 1.62 and a beta of 0.31. ABIOMED has a 12-month low of $197.01 and a 12-month high of $459.75.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data 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 company had revenue of $207.70 million for the quarter, compared to analyst estimates of $210.96 million. ABIOMED had a return on equity of 19.84% and a net margin of 32.35%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.95 earnings per share. As a group, analysts forecast that ABIOMED will post 4.41 EPS for the current year.

In related news, Director Martin P. Sutter sold 4,664 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 192,550 shares of the company’s stock, valued at $50,057,223.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.40% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its stake in ABIOMED by 1.2% in the 1st quarter. Baillie Gifford & Co. now owns 1,081,431 shares of the medical equipment provider’s stock worth $308,846,000 after acquiring an additional 12,572 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in ABIOMED by 314.3% in 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 acquiring an additional 491,750 shares during the period. Geode Capital Management LLC grew its stake in ABIOMED by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 606,848 shares of the medical equipment provider’s stock worth $196,924,000 after acquiring an additional 32,418 shares during the period. Northern Trust Corp grew its stake in ABIOMED by 1.4% in the 1st quarter. Northern Trust Corp now owns 469,550 shares of the medical equipment provider’s stock worth $134,099,000 after acquiring an additional 6,631 shares during the period. Finally, Artisan Partners Limited Partnership grew its stake in ABIOMED by 330.0% in the 1st quarter. Artisan Partners Limited Partnership now owns 334,891 shares of the medical equipment provider’s stock worth $95,642,000 after acquiring an additional 257,009 shares during the period. Hedge funds and other institutional investors own 87.90% of the company’s 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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Analyst Recommendations for ABIOMED (NASDAQ:ABMD)

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