Paloma Partners Management Co increased its position in ABIOMED, Inc. (NASDAQ:ABMD) by 65.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of ABIOMED by 10,945.5% in the first quarter. BlackRock Inc. now owns 3,270,245 shares of the medical equipment provider’s stock worth $409,433,000 after buying an additional 3,240,638 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of ABIOMED by 184.3% in the first quarter. Baillie Gifford & Co. now owns 1,672,435 shares of the medical equipment provider’s stock worth $209,389,000 after buying an additional 1,084,264 shares during the last quarter. Norges Bank acquired a new stake in shares of ABIOMED during the fourth quarter worth about $53,701,000. Brown Capital Management LLC increased its stake in shares of ABIOMED by 30.5% in the first quarter. Brown Capital Management LLC now owns 915,700 shares of the medical equipment provider’s stock worth $114,646,000 after buying an additional 213,889 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of ABIOMED by 27.6% in the first quarter. Renaissance Technologies LLC now owns 668,700 shares of the medical equipment provider’s stock worth $83,721,000 after buying an additional 144,800 shares during the last quarter. 90.50% of the stock is owned by institutional investors and hedge funds.
Shares of ABIOMED, Inc. (ABMD) opened at 142.15 on Wednesday. ABIOMED, Inc. has a 12 month low of $95.14 and a 12 month high of $147.45. The firm’s 50 day moving average is $139.39 and its 200-day moving average is $124.08. The firm has a market capitalization of $6.19 billion, a PE ratio of 121.50 and a beta of 0.20.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, May 4th. The medical equipment provider reported $0.33 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. ABIOMED had a net margin of 11.70% and a return on equity of 12.67%. The firm had revenue of $124.68 million for the quarter, compared to analyst estimates of $122.82 million. During the same quarter last year, the firm posted $0.24 earnings per share. ABIOMED’s revenue for the quarter was up 32.7% compared to the same quarter last year. On average, analysts expect that ABIOMED, Inc. will post $1.84 EPS for the current fiscal year.
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A number of research analysts recently weighed in on ABMD shares. Morgan Stanley restated an “equal weight” rating and set a $140.00 target price (up previously from $135.00) on shares of ABIOMED in a research note on Monday. Piper Jaffray Companies upgraded shares of ABIOMED from a “neutral” rating to an “overweight” rating and set a $145.00 price target on the stock in a report on Thursday, April 6th. Leerink Swann upped their target price on shares of ABIOMED from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 30th. Zacks Investment Research cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, BidaskClub cut shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. ABIOMED has a consensus rating of “Buy” and a consensus price target of $149.43.
In related news, COO David M. Weber sold 21,250 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $130.89, for a total value of $2,781,412.50. Following the transaction, the chief operating officer now owns 123,771 shares in the company, valued at $16,200,386.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael G. Howley sold 18,279 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $133.56, for a total transaction of $2,441,343.24. Following the completion of the transaction, the vice president now owns 62,105 shares in the company, valued at approximately $8,294,743.80. The disclosure for this sale can be found here. Insiders sold 53,629 shares of company stock worth $7,072,580 in the last 90 days. 7.00% of the stock is currently owned by insiders.
ABIOMED Company Profile
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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