Congress Asset Management Co. MA reduced its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 27.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,123 shares of the medical equipment provider’s stock after selling 10,206 shares during the quarter. Congress Asset Management Co. MA owned about 0.06% of ABIOMED worth $8,816,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of ABMD. FMR LLC lifted its position in shares of ABIOMED by 34.2% during the second quarter. FMR LLC now owns 691,818 shares of the medical equipment provider’s stock worth $282,988,000 after acquiring an additional 176,394 shares in the last quarter. Andra AP fonden bought a new position in shares of ABIOMED in the second quarter worth $3,272,000. Advisors Asset Management Inc. increased its holdings in shares of ABIOMED by 15.6% in the second quarter. Advisors Asset Management Inc. now owns 20,774 shares of the medical equipment provider’s stock worth $8,498,000 after purchasing an additional 2,809 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of ABIOMED by 4.4% in 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 purchasing an additional 304 shares during the period. Finally, EFG Asset Management Americas Corp. increased its holdings in shares of ABIOMED by 81.8% in the third quarter. EFG Asset Management Americas Corp. now owns 7,558 shares of the medical equipment provider’s stock worth $3,399,000 after purchasing an additional 3,400 shares during the period. Institutional investors and hedge funds own 87.08% of the company’s stock.
Shares of NASDAQ:ABMD traded down $0.40 on Friday, reaching $341.21. 303,492 shares of the company traded hands, compared to its average volume of 530,701. ABIOMED, Inc. has a 52 week low of $219.13 and a 52 week high of $459.75. The stock has a market capitalization of $15.38 billion, a P/E ratio of 139.27, a price-to-earnings-growth ratio of 3.41 and a beta of 0.38.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings data on Thursday, January 31st. The medical equipment provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. ABIOMED had a return on equity of 20.31% and a net margin of 30.12%. The firm had revenue of $200.56 million for the quarter, compared to analysts’ expectations of $200.60 million. As a group, research analysts expect that ABIOMED, Inc. will post 3.61 EPS for the current fiscal year.
In other ABIOMED news, COO David M. Weber sold 24,000 shares of the firm’s stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $351.47, for a total value of $8,435,280.00. Following the completion of the sale, the chief operating officer now directly owns 161,842 shares in the company, valued at $56,882,607.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin P. Sutter sold 5,985 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $349.49, for a total transaction of $2,091,697.65. Following the completion of the sale, the director now owns 212,943 shares of the company’s stock, valued at $74,421,449.07. The disclosure for this sale can be found here. Insiders have sold 49,928 shares of company stock worth $17,512,612 over the last ninety days. Insiders own 3.50% of the company’s stock.
Several research analysts have recently weighed in on ABMD shares. BTIG Research raised shares of ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Friday, November 2nd. Morgan Stanley raised shares of ABIOMED from an “equal” rating to a “weight” rating and upped their price target for the stock from $396.00 to $496.00 in a report on Wednesday, November 7th. BidaskClub cut shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. ValuEngine cut shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Finally, Zacks Investment Research cut shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Monday, December 10th. Nine analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $413.71.
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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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