Financial Gravity Companies Inc. Takes Position in ABIOMED, Inc. (ABMD)

Financial Gravity Companies Inc. bought a new stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 135 shares of the medical equipment provider’s stock, valued at approximately $47,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS increased its stake in shares of ABIOMED by 0.5% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 6,930 shares of the medical equipment provider’s stock worth $2,253,000 after purchasing an additional 35 shares during the period. Cornerstone Advisors Inc. increased its stake in shares of ABIOMED by 304.8% in the fourth quarter. Cornerstone Advisors Inc. now owns 85 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 64 shares during the period. Shine Investment Advisory Services Inc. increased its stake in shares of ABIOMED by 319.0% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 88 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 67 shares during the period. We Are One Seven LLC bought a new position in shares of ABIOMED in the fourth quarter worth about $26,000. Finally, Coe Capital Management LLC increased its stake in shares of ABIOMED by 2.8% in the third quarter. Coe Capital Management LLC now owns 3,539 shares of the medical equipment provider’s stock worth $1,592,000 after purchasing an additional 95 shares during the period. Institutional investors own 95.25% of the company’s stock.

ABMD has been the topic of a number of recent research reports. Zacks Investment Research raised ABIOMED from a “hold” rating to a “buy” rating and set a $370.00 target price on the stock in a research report on Friday, January 18th. BTIG Research raised ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 target price on the stock in a research report on Friday, November 2nd. ValuEngine raised ABIOMED from a “hold” rating to a “buy” rating in a research report on Wednesday, November 28th. Finally, BidaskClub raised ABIOMED from a “hold” rating to a “buy” rating in a research report on Friday, December 28th. Nine equities research analysts have rated the stock with a buy rating, ABIOMED currently has a consensus rating of “Buy” and a consensus target price of $413.71.

Shares of ABIOMED stock opened at $358.08 on Wednesday. ABIOMED, Inc. has a 52 week low of $225.50 and a 52 week high of $459.75. The firm has a market cap of $15.52 billion, a price-to-earnings ratio of 146.16, a price-to-earnings-growth ratio of 3.41 and a beta of 0.38.

ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, January 31st. The medical equipment provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. ABIOMED had a net margin of 30.12% and a return on equity of 20.31%. The company had revenue of $200.56 million during the quarter, compared to analyst estimates of $200.60 million. On average, equities research analysts forecast that ABIOMED, Inc. will post 3.61 earnings per share for the current fiscal year.

In related news, Director Martin P. Sutter sold 5,985 shares of the company’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $349.49, for a total value of $2,091,697.65. Following the completion of the transaction, the director now directly owns 212,943 shares of the company’s stock, valued at approximately $74,421,449.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO David M. Weber sold 24,000 shares of the company’s stock in a transaction on Friday, January 25th. The stock was sold at an average price of $351.47, for a total transaction of $8,435,280.00. Following the completion of the transaction, the chief operating officer now directly owns 161,842 shares of the company’s stock, valued at $56,882,607.74. The disclosure for this sale can be found here. Insiders sold a total of 49,928 shares of company stock valued at $17,512,612 in the last three months. 3.50% of the stock is owned by company insiders.

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About ABIOMED

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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Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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