Paloma Partners Management Co increased its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 65.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,664 shares of the medical equipment provider’s stock after buying an additional 2,644 shares during the period. Paloma Partners Management Co’s holdings in ABIOMED were worth $834,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in ABMD. Creative Planning raised its stake in shares of ABIOMED by 16.4% in the first quarter. Creative Planning now owns 916 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 129 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in ABIOMED during the first quarter valued at approximately $200,000. Palladium Partners LLC acquired a new stake in ABIOMED during the first quarter valued at approximately $211,000. Campbell & CO Investment Adviser LLC acquired a new stake in ABIOMED during the first quarter valued at approximately $231,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in ABIOMED during the first quarter valued at approximately $244,000. Institutional investors own 90.68% of the company’s stock.
ABIOMED, Inc. (NASDAQ:ABMD) traded up 2.11% during mid-day trading on Friday, reaching $151.01. 397,836 shares of the company’s stock traded hands. The stock has a market capitalization of $6.63 billion, a PE ratio of 88.31 and a beta of 0.20. ABIOMED, Inc. has a 52 week low of $95.14 and a 52 week high of $151.22. The stock’s 50 day moving average is $143.76 and its 200-day moving average is $128.87.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $132.47 million for the quarter, compared to analyst estimates of $130.83 million. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. On average, equities analysts anticipate that ABIOMED, Inc. will post $2.24 EPS for the current year.
Several research firms have recently commented on ABMD. William Blair restated an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “strong-buy” rating and set a $163.00 price target for the company in a report on Thursday, July 13th. BidaskClub lowered shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Piper Jaffray Companies set a $145.00 price target on shares of ABIOMED in a report on Tuesday, July 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $165.00 price objective on shares of ABIOMED in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $156.86.
In related news, COO David M. Weber sold 21,250 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $130.89, for a total transaction of $2,781,412.50. Following the completion of the transaction, the chief operating officer now owns 123,771 shares of the company’s stock, valued at $16,200,386.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO David M. Weber sold 16,500 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $147.63, for a total value of $2,435,895.00. Following the transaction, the chief operating officer now directly owns 125,122 shares of the company’s stock, valued at approximately $18,471,760.86. The disclosure for this sale can be found here. Insiders have sold 70,129 shares of company stock valued at $9,508,475 in the last ninety days. Company insiders own 7.00% of the company’s stock.
ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.
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