The stock of ABIOMED, Inc. (NASDAQ:ABMD) reached all time high today, Sep, 30 and still has $198.92 target or 54.00% above today’s $129.17 share price. This indicates more upside for the $5.50 billion company. This technical setup was reported by Barchart.com. If the $198.92 PT is reached, the company will be worth $2.97B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 29,013 shares traded hands. ABIOMED, Inc. (NASDAQ:ABMD) has risen 59.23% since February 26, 2016 and is uptrending. It has outperformed by 48.81% the S&P500.
Analysts await ABIOMED, Inc. (NASDAQ:ABMD) to report earnings on November, 3. They expect $0.24 earnings per share, up 41.18% or $0.07 from last year’s $0.17 per share. ABMD’s profit will be $10.22M for 134.55 P/E if the $0.24 EPS becomes a reality. After $0.29 actual earnings per share reported by ABIOMED, Inc. for the previous quarter, Wall Street now forecasts -17.24% negative EPS growth.
ABIOMED, Inc. (NASDAQ:ABMD) Ratings Coverage
Out of 6 analysts covering Abiomed (NASDAQ:ABMD), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. Abiomed has been the topic of 11 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Leerink Swann given on Wednesday, May 4. Northland Capital maintained it with “Market Perform” rating and $80 target price in Wednesday, August 5 report. The rating was maintained by BTIG Research on Tuesday, August 4 with “Hold”. The firm earned “Hold” rating on Wednesday, August 5 by Piper Jaffray. The rating was upgraded by Raymond James on Friday, October 30 to “Outperform”. As per Tuesday, August 9, the company rating was maintained by Jefferies. Benchmark maintained it with “Buy” rating and $96 target price in Tuesday, August 4 report. The firm earned “Buy” rating on Tuesday, August 18 by Sterne Agee CRT.
According to Zacks Investment Research, “Abiomed, Inc. is a developer, manufacturer and marketer of medical products designed to safely and effectively assist or replace the pumping function of the failing heart. The company currently manufactures and sells the BVS-5000, a temporary heart assist device, which is approved by the U.S. Food and Drug Administration for the temporary treatment of all patients with failing but potentially recoverable hearts. The company is also engaged in research and development relating to other devices to support the pumping function of the heart.”
Insitutional Activity: The institutional sentiment decreased to 0.98 in Q2 2016. Its down 0.47, from 1.45 in 2016Q1. The ratio dropped, as 31 funds sold all ABIOMED, Inc. shares owned while 101 reduced positions. 46 funds bought stakes while 83 increased positions. They now own 38.30 million shares or 7.51% less from 41.41 million shares in 2016Q1.
Essex Woodlands Health Ventures Inc. holds 39.93% of its portfolio in ABIOMED, Inc. for 1.45 million shares. Palo Alto Investors Llc owns 2.07 million shares or 17.06% of their US portfolio. Moreover, Blue Jay Capital Management Llc has 7.53% invested in the company for 104,920 shares. The California-based Messner & Smith Theme Value Investment Management Ltd Ca has invested 4.88% in the stock. Cupps Capital Management Llc, a Illinois-based fund reported 136,653 shares.
Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 16 insider sales for $27.69 million net activity.
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