Victory Capital Management Inc. grew its position in shares of Abiomed (NASDAQ:ABMD) by 722.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,303 shares of the medical equipment provider’s stock after buying an additional 79,326 shares during the quarter. Victory Capital Management Inc.’s holdings in Abiomed were worth $26,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dupont Capital Management Corp bought a new position in shares of Abiomed during the 1st quarter valued at $161,000. Cerebellum GP LLC bought a new position in shares of Abiomed during the 4th quarter valued at $127,000. Intersect Capital LLC bought a new position in shares of Abiomed during the 1st quarter valued at $214,000. Advisor Partners LLC bought a new position in shares of Abiomed during the 4th quarter valued at $209,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Abiomed during the 4th quarter valued at $183,000. 88.02% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:ABMD opened at $379.94 on Friday. The firm has a market capitalization of $16.91 billion, a PE ratio of 155.08, a P/E/G ratio of 4.12 and a beta of 0.18. Abiomed has a one year low of $377.11 and a one year high of $386.45.
Abiomed (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, May 3rd. The medical equipment provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.64 by $0.16. The firm had revenue of $174.44 million during the quarter, compared to analyst estimates of $164.30 million. Abiomed had a return on equity of 17.58% and a net margin of 18.89%. Abiomed’s revenue was up 39.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. research analysts anticipate that Abiomed will post 3.43 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on ABMD shares. Leerink Swann increased their price target on Abiomed from $200.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, January 19th. BidaskClub raised Abiomed from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 20th. Piper Jaffray reissued a “positive” rating and set a $300.00 price target (up from $220.00) on shares of Abiomed in a report on Thursday, February 1st. Jefferies Group reissued a “buy” rating and set a $300.00 price target on shares of Abiomed in a report on Thursday, February 1st. Finally, Guggenheim reissued a “buy” rating and set a $280.00 price target on shares of Abiomed in a report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Abiomed presently has an average rating of “Buy” and a consensus target price of $325.00.
In other news, SVP William J. Bolt sold 22,790 shares of the company’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $348.03, for a total value of $7,931,603.70. Following the completion of the sale, the senior vice president now directly owns 66,414 shares in the company, valued at approximately $23,114,064.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew J. Greenfield sold 20,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $270.36, for a total value of $5,407,200.00. The disclosure for this sale can be found here. Insiders sold a total of 82,180 shares of company stock valued at $26,949,944 over the last 90 days. 7.00% of the stock is currently owned by company insiders.
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; Impella CP that provides partial circulatory support using an extracorporeal bypass control unit; Impella 5.0 catheter and Impella LD, which are percutaneous micro heart pumps with integrated motors and sensors for use primarily in the heart surgery suite; and Impella RP, a percutaneous catheter-based axial flow pump.
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