Raymond James Maintains a Hold Rating on Abiomed (ABMD)
Raymond James analyst Jayson Bedford maintained a Hold rating on Abiomed (ABMD) on May 11. The company’s shares closed last Thursday at $294.01, close to its 52-week high of $319.19.
According to TipRanks.com, Bedford is a 5-star analyst with an average return of 16.3% and a 71.5% success rate. Bedford covers the Healthcare sector, focusing on stocks such as Merit Medical Systems, Edwards Lifesciences, and Tandem Diabetes Care.
Abiomed has an analyst consensus of Hold, with a price target consensus of $316.75, representing a 1.7% upside. In a report issued on April 27, Leerink Partners also downgraded the stock to Hold with a $175.00 price target.
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Based on Abiomed’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $165 million and net profit of $44.59 million. In comparison, last year the company earned revenue of $208 million and had a net profit of $88.92 million.
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ABIOMED, Inc. engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It distributes its products under the Impella brand. The company was founded in 1981 and is headquartered in Danvers, MA.
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