Advisory Research Inc. decreased its position in ABIOMED, Inc. (NASDAQ:ABMD) by 27.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,234 shares of the medical equipment provider’s stock after selling 478 shares during the quarter. Advisory Research Inc.’s holdings in ABIOMED were worth $555,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in ABIOMED by 65.0% in the second quarter. Wells Fargo & Company MN now owns 134,542 shares of the medical equipment provider’s stock valued at $55,034,000 after purchasing an additional 52,986 shares during the period. Beech Hill Advisors Inc. increased its position in shares of ABIOMED by 100.0% during the third quarter. Beech Hill Advisors Inc. now owns 1,000 shares of the medical equipment provider’s stock worth $450,000 after acquiring an additional 500 shares during the period. Private Advisor Group LLC purchased a new stake in shares of ABIOMED during the second quarter worth $1,515,000. State of Alaska Department of Revenue increased its position in shares of ABIOMED by 4.4% during the third quarter. State of Alaska Department of Revenue now owns 7,184 shares of the medical equipment provider’s stock worth $3,230,000 after acquiring an additional 304 shares during the period. Finally, Creative Planning increased its position in shares of ABIOMED by 5.3% during the third quarter. Creative Planning now owns 10,593 shares of the medical equipment provider’s stock worth $4,764,000 after acquiring an additional 533 shares during the period. 84.88% of the stock is currently owned by institutional investors.
ABMD has been the topic of a number of recent research reports. ValuEngine lowered ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. BidaskClub raised ABIOMED from a “hold” rating to a “buy” rating in a research report on Wednesday, September 5th. Morgan Stanley upped their price objective on ABIOMED from $370.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 11th. Finally, BTIG Research raised ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Friday, November 2nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $402.78.
ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 EPS for the quarter, beating the consensus estimate of $0.73 by $0.36. The firm had revenue of $181.78 million for the quarter, compared to analyst estimates of $175.41 million. ABIOMED had a return on equity of 20.09% and a net margin of 27.60%. ABIOMED’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. As a group, equities analysts expect that ABIOMED, Inc. will post 3.57 EPS for the current fiscal year.
In related news, VP Michael G. Howley sold 10,000 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $432.50, for a total value of $4,325,000.00. Following the transaction, the vice president now owns 48,954 shares of the company’s stock, valued at $21,172,605. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.
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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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