Abiomed (ABMD) Receives a Hold from Raymond James

In a report released today, Jayson Bedford from Raymond James maintained a Hold rating on Abiomed (ABMDResearch Report). The company’s shares closed last Tuesday at $277.53.

According to TipRanks.com, Bedford is a 5-star analyst with an average return of 16.3% and a 70.7% success rate. Bedford covers the Healthcare sector, focusing on stocks such as Merit Medical Systems, Edwards Lifesciences, and Integra Lifesciences.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Abiomed with a $315.40 average price target, an 11.3% upside from current levels. In a report issued on October 12, Leerink Partners also maintained a Hold rating on the stock with a $280.00 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.