Trading Report: Today, Brokerages Set Abiomed Inc. (NASDAQ:ABMD) PT at $115.59

Today, Brokerages Set Abiomed Inc. (NASDAQ:ABMD) PT at $115.59

Shares of Abiomed Inc. (NASDAQ:ABMD) have received an average recommendation of “Buy” from the nine analysts that are currently covering the stock. Two analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $116.59.

ABMD has been the topic of a number of research reports. Jefferies Group raised their price objective on Abiomed from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Zacks Investment Research upgraded Abiomed from a “hold” rating to a “buy” rating and set a $138.00 price objective on the stock in a report on Friday, September 16th. Finally, Leerink Swann restated an “outperform” rating and issued a $125.00 price objective on shares of Abiomed in a report on Wednesday, September 28th.

In other Abiomed news, Director Henri A. Termeer sold 25,866 shares of Abiomed stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $118.70, for a total transaction of $3,070,294.20. Following the sale, the director now directly owns 325,778 shares in the company, valued at approximately $38,669,848.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael G. Howley sold 17,853 shares of Abiomed stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $119.20, for a total value of $2,128,077.60. Following the sale, the vice president now owns 65,558 shares in the company, valued at $7,814,513.60. The disclosure for this sale can be found here. Corporate insiders own 10.00% of the company’s stock.

A number of large investors have recently bought and sold shares of the company. State Street Corp increased its stake in Abiomed by 56.3% in the first quarter. State Street Corp now owns 1,316,168 shares of the company’s stock valued at $124,787,000 after buying an additional 474,209 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Abiomed by 2.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,160,974 shares of the company’s stock valued at $126,883,000 after buying an additional 23,236 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Abiomed by 40.3% in the second quarter. 1832 Asset Management L.P. now owns 1,122,900 shares of the company’s stock valued at $201,891,000 after buying an additional 322,600 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in Abiomed by 21.8% in the second quarter. Lord Abbett & CO. LLC now owns 829,341 shares of the company’s stock valued at $90,639,000 after buying an additional 148,400 shares in the last quarter. Finally, Brown Capital Management LLC increased its stake in Abiomed by 29.5% in the second quarter. Brown Capital Management LLC now owns 593,959 shares of the company’s stock valued at $64,914,000 after buying an additional 135,436 shares in the last quarter. Institutional investors own 93.65% of the company’s stock.

Abiomed (NASDAQ:ABMD) opened at 127.45 on Monday. The company has a 50-day moving average price of $122.33 and a 200-day moving average price of $109.01. The firm has a market capitalization of $5.46 billion, a P/E ratio of 135.59 and a beta of 0.75. Abiomed has a one year low of $67.81 and a one year high of $131.16.

Abiomed (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. Abiomed had a return on equity of 11.86% and a net margin of 11.75%. The firm had revenue of $103 million for the quarter, compared to analyst estimates of $97.23 million. During the same period last year, the company earned $0.20 EPS. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. On average, equities research analysts anticipate that Abiomed will post $1.17 EPS for the current year.

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