ABIOMED (ABMD) : The total negative money flow of $1.1 million on Wednesday indicates selling on strength. The inflow of money on upticks was $2.7 million, compared to $3.8 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.71. The negative money flow of $1.97 million in block trades reveals that the informed traders sold the stock on every bit of price strength.The transaction value of block trade on downtick was $1.97 million. The price action in the ABIOMED (ABMD) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $118.72 with a gain of $2.13 , a change of 1.83% over the previous days close. The stock registered 1.35% for the week.
Also, Leerink Swann maintains its rating on ABIOMED (NASDAQ:ABMD). The global brokerage major raises the current price target from $120 per share to $125 per share. Analysts at the Leerink Swann have a current rating of Outperform on the shares. The rating by the firm was issued on May 4, 2016.
ABIOMED (NASDAQ:ABMD): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $117.28 and $117.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $119.90. The buying momentum continued till the end and the stock did not give up its gains. It closed at $118.24, notching a gain of 1.42% for the day. The total traded volume was 574,503 . The stock had closed at $116.59 on the previous day.
The stock has recorded a 20-day Moving Average of 6.95% and the 50-Day Moving Average is 13.88%. In a related news, The Securities and Exchange Commission has divulged that Howley Michael G, Officer (Vp, Global Sales & Marketing) of ABIOMED INC, had unloaded 10,000 shares at an average price of $106.58 in a transaction dated on June 29, 2016. The total value of the transaction was worth $1,065,800.
Abiomed, Inc. is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Companys products include Impella 2.5, a percutaneous micro heart pump with an integrated motor and sensors; Impella CP, which is primarily used by either interventional cardiologists to support patients in the catheter lab or by surgeons in the heart surgery suite; Impella 5.0 and Impella LD, a percutaneous micro heart pumps with integrated motors and sensors for use primarily in the heart surgery suite; Impella RP, a percutaneous catheter-based axial flow pump that is designed to allow greater than four liters of flow per minute; AB5000, a circulatory support system for the temporary support of acute heart failure patients in profound shock, and Symphony, a minimally invasive implantable cardiac assist device.