Traders sold shares of ABIOMED, Inc. (NASDAQ:ABMD) on strength during trading hours on Monday. $32.66 million flowed into the stock on the tick-up and $77.99 million flowed out of the stock on the tick-down, for a money net flow of $45.33 million out of the stock. Of all equities tracked, ABIOMED had the 19th highest net out-flow for the day. ABIOMED traded up $4.37 for the day and closed at $260.93
A number of brokerages have recently commented on ABMD. Zacks Investment Research lowered ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. BidaskClub lowered ABIOMED from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Finally, BTIG Research reiterated a “buy” rating and set a $400.00 price target on shares of ABIOMED in a report on Tuesday, January 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $422.40.
The firm has a market capitalization of $11.75 billion, a P/E ratio of 106.50, a P/E/G ratio of 1.87 and a beta of 0.33.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, January 31st. The medical equipment provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. ABIOMED had a return on equity of 20.31% and a net margin of 30.12%. The company had revenue of $200.56 million during the quarter, compared to analyst estimates of $200.60 million. Research analysts anticipate that ABIOMED, Inc. will post 3.58 earnings per share for the current fiscal year.
In other news, Director Martin P. Sutter sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $360.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the director now directly owns 195,491 shares in the company, valued at $70,376,760. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO David M. Weber sold 24,000 shares of the company’s stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $351.47, for a total value of $8,435,280.00. Following the transaction, the chief operating officer now owns 161,842 shares of the company’s stock, valued at $56,882,607.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,928 shares of company stock valued at $26,515,812. Corporate insiders own 3.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ABMD. Norges Bank acquired a new position in shares of ABIOMED in the fourth quarter valued at $158,786,000. Baillie Gifford & Co. raised its stake in shares of ABIOMED by 32.8% in the fourth quarter. Baillie Gifford & Co. now owns 1,068,859 shares of the medical equipment provider’s stock valued at $347,422,000 after purchasing an additional 264,252 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of ABIOMED by 5.9% in 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 purchasing an additional 260,829 shares in the last quarter. Vanguard Group Inc raised its stake in shares of ABIOMED by 5.9% in 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 purchasing an additional 260,829 shares in the last quarter. Finally, Marshall Wace North America L.P. raised its stake in shares of ABIOMED by 45.1% in the third quarter. Marshall Wace North America L.P. now owns 690,160 shares of the medical equipment provider’s stock valued at $310,399,000 after purchasing an additional 214,655 shares in the last quarter. Institutional investors and hedge funds own 87.94% of the company’s stock.
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ABIOMED Company Profile (NASDAQ:ABMD)
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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