Millennium Management LLC increased its holdings in ABIOMED, Inc. (NASDAQ:ABMD) by 20.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 454,439 shares of the medical equipment provider’s stock after buying an additional 76,286 shares during the period. Millennium Management LLC owned about 1.03% of ABIOMED worth $85,166,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Crow Point Partners LLC bought a new position in ABIOMED in the fourth quarter worth approximately $120,000. Cerebellum GP LLC bought a new position in ABIOMED in the fourth quarter worth approximately $127,000. SeaCrest Wealth Management LLC bought a new position in ABIOMED in the fourth quarter worth approximately $183,000. Sigma Planning Corp bought a new position in ABIOMED in the third quarter worth approximately $206,000. Finally, Advisor Partners LLC bought a new position in ABIOMED in the fourth quarter worth approximately $209,000. 88.42% of the stock is owned by institutional investors.
ABMD has been the subject of a number of recent research reports. SunTrust Banks reissued a “buy” rating and issued a $370.00 price objective on shares of ABIOMED in a research note on Friday, February 16th. Jefferies Group lifted their price target on shares of ABIOMED from $208.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. BidaskClub raised shares of ABIOMED from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 20th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of ABIOMED in a report on Thursday, January 4th. Finally, Zacks Investment Research raised shares of ABIOMED from a “hold” rating to a “buy” rating and set a $213.00 price target on the stock in a report on Friday, December 29th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $288.86.
ABIOMED, Inc. (NASDAQ:ABMD) opened at $293.05 on Friday. ABIOMED, Inc. has a 1-year low of $117.36 and a 1-year high of $304.28. The stock has a market cap of $13,042.92, a price-to-earnings ratio of 148.01, a price-to-earnings-growth ratio of 4.08 and a beta of 0.25.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, February 1st. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.20. ABIOMED had a net margin of 16.58% and a return on equity of 15.54%. The business had revenue of $154.00 million for the quarter, compared to analyst estimates of $154.00 million. During the same period in the previous year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. analysts predict that ABIOMED, Inc. will post 2.29 EPS for the current fiscal year.
In other news, VP Andrew J. Greenfield sold 20,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $270.36, for a total transaction of $5,407,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.00% of the stock is owned by insiders.
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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.
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