Abiomed (NASDAQ:ABMD)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Monday, American Banking and Market News reports. They currently have a $29.00 price objective on the stock. Zacks‘ price objective points to a potential upside of 4.77% from the stock’s previous close.
Zacks‘ analyst wrote, “Abiomed is a medical device company with a blue streak growth path. The company enjoys a strong demand for its Impella products. Multiple near-term drivers, including new products and clinical trials, should further boost the use of Impella. Abiomed’s fiscal 2014-second quarter earnings of $0.03 as well as revenues of $44.3 million met the Zacks Consensus Estimates. However, earnings plunged 76.9% year-over-year due to higher operating expenses. Due to increasing expenses in a number of legal issues, management lowered its operating margin guidance for fiscal 2014. As a result, we reiterate our Neutral recommendation on Abiomed with a price target of $29.00.”
A number of other firms have also recently commented on ABMD. Analysts at Benchmark Co. reiterated a “buy” rating on shares of Abiomed in a research note to investors on Sunday, November 10th. They now have a $25.00 price target on the stock. Separately, analysts at Northland Capital Partners raised their price target on shares of Abiomed from $9.00 to $14.00 in a research note to investors on Thursday, November 7th. They now have an “underperform” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Abiomed from $25.00 to $30.00 in a research note to investors on Thursday, November 7th. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Abiomed currently has an average rating of “Hold” and an average price target of $24.50.
Shares of Abiomed (NASDAQ:ABMD) traded down 0.29% on Monday, hitting $27.60. The stock had a trading volume of 164,641 shares. Abiomed has a one year low of $11.96 and a one year high of $29.24. The stock has a 50-day moving average of $25.53 and a 200-day moving average of $22.95. The company has a market cap of $1.056 billion and a P/E ratio of 193.57.
Abiomed (NASDAQ:ABMD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $44.30 million for the quarter, compared to the consensus estimate of $43.75 million. During the same quarter last year, the company posted $0.20 earnings per share. Abiomed’s revenue was up 18.4% compared to the same quarter last year. On average, analysts predict that Abiomed will post $0.12 earnings per share for the current fiscal year.
ABIOMED, Inc develops temporary and permanent cardiac support systems. The Company develops, manufactures and markets medical technologies designed to assist or replace the pumping function of the failing heart.
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