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Shares of ABIOMED Rise to a New 52-Week High

By Amy Schwartz

ABIOMED (NASDAQ:ABMD) traded today at a new 52-week high of $125.71. This new high was reached on below average trading volume as 165,000 shares traded hands, while the average 30-day volume is approximately 811,000 shares.

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.

In the past 52 weeks, shares of ABIOMED have traded between a low of $59.04 and a high of $125.71 and are now at $125.57, which is 113% above that low price. The 200-day and 50-day moving averages have moved 0.56% higher and 1.34% higher over the past week, respectively.

ABIOMED (NASDAQ:ABMD) is currently priced 18.2% above its average consensus analyst 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.

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 48.2%. 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