Private Bank & Trust Co. bought a new stake in ABIOMED, Inc. (NASDAQ:ABMD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,575 shares of the medical equipment provider’s stock, valued at approximately $226,000.
A number of other large investors have also made changes to their positions in the company. Creative Planning boosted its position in shares of ABIOMED by 16.4% in the first quarter. Creative Planning now owns 916 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 129 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of ABIOMED during the first quarter valued at $200,000. Palladium Partners LLC purchased a new position in shares of ABIOMED during the first quarter valued at $211,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of ABIOMED during the first quarter valued at $231,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of ABIOMED during the first quarter valued at $244,000. 90.51% of the stock is currently owned by institutional investors.
Shares of ABIOMED, Inc. (ABMD) opened at 151.37 on Friday. ABIOMED, Inc. has a 1-year low of $95.14 and a 1-year high of $157.41. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 88.52 and a beta of 0.20. The company’s 50 day moving average is $145.53 and its 200-day moving average is $130.74.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The company had revenue of $132.47 million for the quarter, compared to the consensus estimate of $130.83 million. During the same period in the previous year, the business earned $0.29 EPS. ABIOMED’s revenue for the quarter was up 28.6% compared to the same quarter last year. Equities analysts anticipate that ABIOMED, Inc. will post $2.24 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on ABMD. BidaskClub raised shares of ABIOMED from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Jefferies Group LLC boosted their price objective on shares of ABIOMED from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 4th. Piper Jaffray Companies restated an “overweight” rating and issued a $160.00 price objective (up from $145.00) on shares of ABIOMED in a report on Thursday, July 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $140.00 price target (up from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. ABIOMED presently has a consensus rating of “Buy” and a consensus target price of $158.29.
In other news, COO David M. Weber sold 16,500 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $147.63, for a total value of $2,435,895.00. Following the completion of the sale, the chief operating officer now directly owns 125,122 shares in the company, valued at approximately $18,471,760.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael G. Howley sold 18,279 shares of the business’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 value of $2,441,343.24. Following the completion of the sale, the vice president now owns 62,105 shares of the company’s stock, valued at $8,294,743.80. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.
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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