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ABIOMED Looks to Continue to Trade Above its Annual-High Share Price Today

By Shiri Gupta

Shares of ABIOMED (NASDAQ:ABMD) traded at a new 52-week high today of $116.25. So far today approximately 112,000 shares have been exchanged, as compared to an average 30-day volume of 811,000 shares.

ABIOMED (NASDAQ:ABMD) defies analysts with a current price ($115.12) 10.8% above its average consensus price target of $102.70. ABIOMED shares have support at the 50-day moving average (MA) of $92.74 and additional support at the 200-day MA of $88.63.

Abiomed, Inc. provides medical devices in circulatory support and continuum of care in heart recovery to acute heart failure patients. Its products consist of Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella 5.0 catheter and Impella LD, which are percutaneous micro heart pumps with integrated motors and sensors for use primarily in the heart surgery suite. The company also manufactures and sells the AB5000 circulatory support system and the BVS 5000 biventricular support system for temporary support of acute heart failure patients in profound shock, including patients suffering from cardiogenic shock after a heart attack, post-cardiotomy cardiogenic shock, or myocarditis. It sells its products through direct sales and clinical support personnel in the United States, Canada, Germany, France, the United Kingdom, and internationally. The company was founded in 1981 and is based in Danvers, Massachusetts.

Over the past year, ABIOMED has traded in a range of $59.04 to $116.25 and is now at $115.12, 95% above that low. The 200-day and 50-day moving averages have moved 0.56% higher and 1.34% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of ABIOMED on March 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.30. Since that recommendation, shares of ABIOMED have risen 35.4%. We continue to monitor ABMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows abiomed

Ticker(s): ABMD