University of Notre Dame DU Lac lowered its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 10.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 16,467 shares of the medical equipment provider’s stock after selling 1,888 shares during the quarter. University of Notre Dame DU Lac’s holdings in ABIOMED were worth $2,776,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of ABMD. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of ABIOMED by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,947 shares of the medical equipment provider’s stock valued at $852,000 after buying an additional 32 shares during the period. BB&T Securities LLC lifted its holdings in shares of ABIOMED by 1.0% in the 2nd quarter. BB&T Securities LLC now owns 4,154 shares of the medical equipment provider’s stock valued at $595,000 after buying an additional 43 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of ABIOMED by 1.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,294 shares of the medical equipment provider’s stock valued at $472,000 after buying an additional 51 shares during the period. Utah Retirement Systems lifted its holdings in shares of ABIOMED by 1.4% in the 2nd quarter. Utah Retirement Systems now owns 7,400 shares of the medical equipment provider’s stock valued at $1,060,000 after buying an additional 100 shares during the period. Finally, World Asset Management Inc lifted its holdings in shares of ABIOMED by 4.3% in the 2nd quarter. World Asset Management Inc now owns 2,966 shares of the medical equipment provider’s stock valued at $425,000 after buying an additional 122 shares during the period. 90.75% of the stock is owned by institutional investors.
In other ABIOMED news, VP Andrew J. Greenfield sold 11,282 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $169.32, for a total transaction of $1,910,268.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael G. Howley sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $178.64, for a total value of $1,786,400.00. Following the sale, the vice president now owns 56,757 shares of the company’s stock, valued at $10,139,070.48. The disclosure for this sale can be found here. Insiders sold a total of 27,646 shares of company stock valued at $4,836,333 in the last ninety days. 7.00% of the stock is currently owned by insiders.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.16. The company had revenue of $132.80 million during the quarter, compared to analysts’ expectations of $131.18 million. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. ABIOMED’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 EPS. analysts forecast that ABIOMED, Inc. will post 2.38 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised ABIOMED from a “hold” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Tuesday, November 7th. SunTrust Banks reissued a “buy” rating and issued a $195.00 price objective on shares of ABIOMED in a report on Wednesday, November 1st. BTIG Research reissued a “hold” rating on shares of ABIOMED in a report on Sunday, October 29th. Piper Jaffray Companies upped their price target on ABIOMED to $200.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $200.00 price target (up previously from $180.00) on shares of ABIOMED in a report on Thursday, October 12th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $185.38.
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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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