user warning: Got error 28 from storage engine query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 445304 ORDER BY v.weight, t.weight, in /var/www/ on line 617.

Stock Investors Sell Off Shares of ABIOMED, Down 1.7%

Published on Wed, 02/20/2013 - 13:33
By Mallory Stone

One of today's stocks on the move is ABIOMED (NASDAQ:ABMD), down 1.7% to $14.14. The Dow Jones Industrial Average is now trading fractionally lower to 14,025 and the S&P is trading 0.4% lower to 1,525.

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.

There is potential upside of 25.3% for shares of ABIOMED based on a current price of $14.14 and an average consensus analyst price target of $17.71. ABIOMED shares should encounter resistance at the 200-day moving average (MA) of $18.75 and support at the 50-day MA of $13.40.

In the past 52 weeks, shares of ABIOMED have traded between a low of $11.80 and a high of $26.17 and are now at $14.14, which is 20% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.5%.

By Mallory Stone