Others have owned this stock on this board and I still do. It has held up really well over last few weeks. Yesterday it reported earnings and gapped up very nicely. Today, on no news, it has 11%. A doubled down.
for the TA crowd, it has come to a stop at the 200dma, a line that has provided great support lately. Perhaps some would want to see if it holds that line a few days, but I know the company well enough to be willing to buy. The only thing I know that I don’t know is how the Senate/Congressional hears when on drug pricing. I can’t imaging this “blood pump” company would be mentioned or subjected to that. I have never run across a complaint of their pricing.
http://stockcharts.com/freecharts/gallery.html?abmd
Let me know if you find dreadful news I missed. Thanks.
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Let me know if you find dreadful news I missed. Thanks.
I too own it and like it. I noticed the drop today as well and wondered/searched for news. Didn’t find anything material (yet), but I did find a post on TMF by puddinhead42. He may be a contrarian indicator (read DY or CBM), so I’ll be taking the weekend to deliberate a sell come next week.
Nah, just kidding man and messing with you.
Drops like that are never fun investing days, but in this market, it is becoming the norm lately. The market, with its volatility, is definitely telling us something. What? I don’t pretend to be smart enough to know. Afterall, it can remain irrational longer than I can remain solvent.
Not a subscriber to IBD, but the longer this (volatility) persist, the more I am subscribing to ajaskey’s GANN analysis and forecast of it lasting through ~6/2018.
Given this, I’ve taken a deep breath, accepted what my portfolio holds is worth holding onto. However, be and remain patient as even better bargains may be revealed and those will be the ones worth taking advantage of. I jumped too soon the last time (subprime meltdown). Got bargains but only to watch and see better bargains present themselves.
Hold your fire (cash) for, not when you see the whites in their eyes, but when you can discern the color of their eyes too…those are the bargains I now want. This all seems to be the first charge of them coming our way…bwdik
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Last time it dipped into the 70s I started buying and it worked out well.
ABMD has some support around the 78 area (50dma) and again at 75 (lower bb). I will start my buys around 78 if it dips to there and would be willing to add.
Rob
They tend to hold the 200 DMA and bounce off. They have done this multiple times so we’ll see. The fundamentals are great. P/E of 28 with EPS growth that is at least twice that. Beat on EPS, beat on revenue and up guidance…
Pete,
Take this as anecdotal. I have a friend that sold medical devices. If I made the money he did I would have retired in 4 years. But that is beside the point. He said that because of Obamacare that he has lost his job and the reason was that the price of Medical devices were curtailed by Obamacare. I hesitate to mention this because it is only one point and might not have any bearing on your question but something to think about. Also he could be just crying and maybe Obamacare had nothing to do with it.
Andy
No position in ABMD
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Yes meant the 50 wma at about 78. The 200 dma is at 81ish.
Rob
AnotherSoujourner
Didn’t find anything material (yet), but I did find a post on TMF by puddinhead42. He may be a contrarian indicator (read DY or CBM), so I’ll be taking the weekend to deliberate a sell come next week.
Ha! my 1YPEG portfolio XIRR is only down 19.38% or -12.7% vs S&P, so how do you like them apples? Not so much? me neither, but I am not sad about it. As I mentioned, I track all my 2015 sells in a scorecard and they are XIRR down 42% or -25% vs S&P so it could have been worse! I only have 3 1YPEG winners, ABMD at +14% vs S&P, CASY at +1.8% vs S&), and SEDG at +49% vs S&P. I did buy ABMD a while back and bailed at $105 and got back in around $77, so that worked out.
But I would sell DY, CBM and ABMD if I were you 
(I know, you were joking)
Andy
I have a friend that sold medical devices. If I made the money he did I would have retired in 4 years. But that is beside the point. He said that because of Obamacare that he has lost his job and the reason was that the price of Medical devices were curtailed by Obamacare.
yes, Obamacare did levy a tax on devices, but I think Congress may have repealed that. Either way, with the evidence of this recent quarter’s earnings I suspect it is not hurt CBM.