Strategy Asset Managers LLC boosted its holdings in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 111.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,248 shares of the medical equipment provider’s stock after purchasing an additional 3,828 shares during the quarter. Strategy Asset Managers LLC’s holdings in ABIOMED were worth $2,070,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in ABMD. JPMorgan Chase & Co. grew its holdings in shares of ABIOMED by 7.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,775 shares of the medical equipment provider’s stock valued at $164,057,000 after acquiring an additional 24,531 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of ABIOMED by 34.4% in the 3rd quarter. Teachers Advisors LLC now owns 108,805 shares of the medical equipment provider’s stock valued at $48,935,000 after acquiring an additional 27,825 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of ABIOMED by 30.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 232,758 shares of the medical equipment provider’s stock valued at $104,683,000 after acquiring an additional 53,671 shares in the last quarter. Legal & General Group Plc grew its holdings in ABIOMED by 167.1% during the third quarter. Legal & General Group Plc now owns 167,174 shares of the medical equipment provider’s stock worth $75,186,000 after purchasing an additional 104,583 shares during the period. Finally, Vanguard Group Inc grew its holdings 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 worth $2,090,091,000 after purchasing an additional 260,829 shares during the period. 87.85% of the stock is currently owned by institutional investors.
In other news, Director Martin P. Sutter sold 4,664 shares of the business’s 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 completion of the sale, 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 this hyperlink. Insiders own 3.50% of the company’s stock.
A number of equities analysts recently commented on ABMD shares. SunTrust Banks reiterated a “buy” rating and set a $340.00 price target on shares of ABIOMED in a report on Friday, May 3rd. ValuEngine upgraded ABIOMED from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. BidaskClub cut ABIOMED from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. BTIG Research reiterated a “buy” rating on shares of ABIOMED in a report on Tuesday, May 7th. Finally, Zacks Investment Research cut ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Three research analysts have rated the stock with a sell rating and five have given a buy rating to the company. ABIOMED currently has a consensus rating of “Hold” and a consensus target price of $408.67.
ABIOMED stock traded up $6.83 during midday trading on Tuesday, reaching $259.41. 15,555 shares of the company’s stock were exchanged, compared to its average volume of 669,832. ABIOMED, Inc. has a 52 week low of $228.00 and a 52 week high of $459.75. The stock has a market capitalization of $11.53 billion, a P/E ratio of 71.93, a PEG ratio of 2.03 and a beta of 0.29.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $218.88 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. On average, sell-side analysts anticipate that ABIOMED, Inc. will post 4.57 earnings per share for the current year.
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ABIOMED Company 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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