Sciencast Management LP trimmed its holdings in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 10.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,519 shares of the medical equipment provider’s stock after selling 181 shares during the period. Sciencast Management LP’s holdings in ABIOMED were worth $395,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC boosted its position in ABIOMED by 33.9% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 2,348 shares of the medical equipment provider’s stock valued at $341,000 after purchasing an additional 594 shares during the last quarter. Alberta Investment Management Corp raised its stake in ABIOMED by 22.6% during the 1st quarter. Alberta Investment Management Corp now owns 42,663 shares of the medical equipment provider’s stock valued at $6,193,000 after purchasing an additional 7,856 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in ABIOMED by 12.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 7,825 shares of the medical equipment provider’s stock worth $1,136,000 after buying an additional 854 shares in the last quarter. Macquarie Group Ltd. boosted its stake in ABIOMED by 57.8% during the fourth quarter. Macquarie Group Ltd. now owns 63,209 shares of the medical equipment provider’s stock worth $10,783,000 after buying an additional 23,164 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of ABIOMED during the 4th quarter valued at about $92,358,000. 94.43% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on ABMD. SVB Leerink increased their target price on ABIOMED from $195.00 to $225.00 and gave the stock a “market perform” rating in a report on Thursday, May 28th. BidaskClub raised shares of ABIOMED from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. OTR Global upgraded ABIOMED to a “positive” rating in a report on Monday, July 13th. BTIG Research cut shares of ABIOMED to a “hold” rating in a research report on Wednesday, May 27th. Finally, Zacks Investment Research cut ABIOMED from a “hold” rating to a “sell” rating and set a $160.00 target price on the stock. in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $186.40.
In other news, Director Dorothy E. Puhy sold 7,500 shares of the stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $275.00, for a total transaction of $2,062,500.00. Following the transaction, the director now owns 7,652 shares in the company, valued at $2,104,300. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.40% of the stock is currently owned by corporate insiders.
NASDAQ ABMD opened at $299.94 on Friday. The stock has a market cap of $13.51 billion, a PE ratio of 67.86, a P/E/G ratio of 4.79 and a beta of 0.94. The firm has a 50-day moving average of $265.61 and a 200-day moving average of $198.10. ABIOMED, Inc. has a 52-week low of $119.01 and a 52-week high of $302.97.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.26). ABIOMED had a net margin of 24.14% and a return on equity of 18.51%. The company had revenue of $206.66 million during the quarter, compared to the consensus estimate of $209.58 million. During the same period in the prior year, the company earned $1.60 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. On average, equities analysts anticipate that ABIOMED, Inc. will post 3.21 EPS for the current fiscal year.
ABIOMED Company Profile
ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.
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