Balyasny Asset Management LLC Takes $607,000 Position in ABIOMED, Inc. (ABMD)

Balyasny Asset Management LLC purchased a new position in shares of ABIOMED, Inc. (NASDAQ:ABMD) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,238 shares of the medical equipment provider’s stock, valued at approximately $607,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank acquired a new position in ABIOMED during the second quarter worth about $100,000. Seven Eight Capital LP acquired a new position in ABIOMED during the second quarter worth about $100,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ABIOMED by 15.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock worth $217,000 after acquiring an additional 197 shares during the last quarter. Private Bank & Trust Co. acquired a new position in ABIOMED during the second quarter worth about $226,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in ABIOMED during the first quarter worth about $244,000. Hedge funds and other institutional investors own 89.49% of the company’s stock.

In other ABIOMED news, COO David M. Weber sold 16,500 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $147.63, for a total value of $2,435,895.00. Following the transaction, the chief operating officer now owns 125,122 shares in the company, valued at $18,471,760.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Thomas sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $154.71, for a total value of $1,547,100.00. Following the completion of the transaction, the director now owns 12,172 shares in the company, valued at approximately $1,883,130.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,782 shares of company stock worth $9,513,610. Corporate insiders own 7.00% of the company’s stock.

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Shares of ABIOMED, Inc. (ABMD) traded up 1.027% during trading on Friday, hitting $181.435. 208,953 shares of the stock traded hands. The company’s 50 day moving average is $166.04 and its 200 day moving average is $147.35. ABIOMED, Inc. has a 52-week low of $95.14 and a 52-week high of $183.96. The firm has a market cap of $8.00 billion, a PE ratio of 106.102 and a beta of 0.27.

ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.16. The business had revenue of $132.80 million for the quarter, compared to analyst estimates of $131.18 million. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. On average, equities research analysts predict that ABIOMED, Inc. will post $2.26 EPS for the current year.

Several equities analysts have weighed in on ABMD shares. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 target price (up from $135.00) on shares of ABIOMED in a report on Monday, July 10th. SunTrust Banks, Inc. started coverage on shares of ABIOMED in a report on Friday, September 29th. They issued a “buy” rating and a $195.00 target price on the stock. BTIG Research lowered shares of ABIOMED from a “buy” rating to a “neutral” rating in a report on Monday, October 16th. Zacks Investment Research lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, BidaskClub lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $178.25.

ABIOMED Profile

ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.

Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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