Stock performance

On November 26, Abiomed (ABMD) stock closed at $311.15, a ~3.92% rise from its previous day’s close of $299.41 on November 23. Abiomed stock rose from $187.41 at the close of market on December 29, 2017, to $311.15 at the close of market on November 26, 2018, reflecting a ~66% year-to-date rise.

On November 26, Abiomed stock closed at $311.15, a ~67% rise from its 52-week low of $186.72 on December 6, 2017. On October 1, Abiomed stock hit its 52-week high of $459.75.

Wall Street Analysts Are Mostly Positive on Abiomed

Financials in a nutshell

Abiomed presented its fiscal 2019 second-quarter results on November 1. Abiomed’s net revenue in the first half of fiscal 2019 amounted to $361.8 million compared to $265.3 million in the same period of fiscal 2018, reflecting 36% YoY growth. Abiomed’s medical device peer Medtronic’s (MDT) net revenue in the second quarter of fiscal 2019 amounted to $7.5 billion, reflecting ~6.11% YoY growth. The revenue growth of Abiomed and Medtronic could boost the share price of the iShares U.S. Medical Devices ETF (IHI). Medtronic and Abiomed make up ~9.72% and 1.69% of IHI’s total portfolio holdings, respectively.

Abiomed’s net operating expenses in the first half of fiscal 2019 amounted to $264.7 million compared to $200.5 million in the first half of fiscal 2018.

Abiomed’s net income and diluted EPS in the first half of fiscal 2019 amounted to $140.2 million and $3.04, respectively, compared to $61.9 million and $1.36, respectively, in the same period last year.

Analysts’ recommendations

Of the 11 analysts tracking Abiomed in November, six have given it “strong buy” ratings, while five have given it “buy” ratings. On November 27, Abiomed had a consensus 12-month target price of $456.6, a potential ~46.75% return on investment over the next 12 months.

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