Sit Investment Associates Inc. Boosts Stake in ABIOMED, Inc. (NASDAQ:ABMD)

Sit Investment Associates Inc. lifted its position in ABIOMED, Inc. (NASDAQ:ABMD) by 370.4% in the first quarter, HoldingsChannel reports. The firm owned 15,170 shares of the medical equipment provider’s stock after purchasing an additional 11,945 shares during the quarter. Sit Investment Associates Inc.’s holdings in ABIOMED were worth $4,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc raised its position in ABIOMED by 5.9% during the third quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock valued at $2,090,091,000 after acquiring an additional 260,829 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in ABIOMED during the fourth quarter valued at approximately $103,000. Dupont Capital Management Corp raised its position in ABIOMED by 181.0% during the fourth quarter. Dupont Capital Management Corp now owns 1,481 shares of the medical equipment provider’s stock valued at $481,000 after acquiring an additional 954 shares in the last quarter. TD Asset Management Inc. raised its position in ABIOMED by 52.6% during the fourth quarter. TD Asset Management Inc. now owns 19,336 shares of the medical equipment provider’s stock valued at $6,285,000 after acquiring an additional 6,661 shares in the last quarter. Finally, BB&T Securities LLC raised its position in ABIOMED by 27.3% during the fourth quarter. BB&T Securities LLC now owns 1,230 shares of the medical equipment provider’s stock valued at $399,000 after acquiring an additional 264 shares in the last quarter. Hedge funds and other institutional investors own 87.13% of the company’s stock.

In other ABIOMED news, Director Martin P. Sutter sold 4,664 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $259.97, for a total transaction of $1,212,500.08. Following the transaction, the director now owns 192,550 shares in the company, valued at $50,057,223.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.50% of the company’s stock.

ABMD traded down $4.57 during midday trading on Friday, hitting $250.96. 470,149 shares of the company’s stock traded hands, compared to its average volume of 641,721. The firm has a market cap of $11.53 billion, a PE ratio of 69.71, a PEG ratio of 2.03 and a beta of 0.39. ABIOMED, Inc. has a one year low of $228.00 and a one year high of $459.75.

ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.07 by $0.53. ABIOMED had a return on equity of 20.32% and a net margin of 33.66%. The company had revenue of $207.08 million for the quarter, compared to the consensus estimate of $218.88 million. During the same quarter last year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, research analysts expect that ABIOMED, Inc. will post 4.5 EPS for the current year.

Several equities analysts recently weighed in on the stock. BidaskClub raised shares of ABIOMED from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research lowered shares of ABIOMED from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. BTIG Research reaffirmed a “buy” rating on shares of ABIOMED in a research report on Tuesday, May 7th. ValuEngine lowered shares of ABIOMED from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $340.00 price objective on shares of ABIOMED in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. ABIOMED has an average rating of “Hold” and a consensus price target of $398.40.

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ABIOMED Profile

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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