Scout Investments Inc. trimmed its stake in Abiomed (NASDAQ:ABMD) by 19.9% in the first quarter, HoldingsChannel reports. The firm owned 369,996 shares of the medical equipment provider’s stock after selling 92,062 shares during the quarter. Abiomed comprises 2.6% of Scout Investments Inc.’s portfolio, making the stock its 2nd largest holding. Scout Investments Inc.’s holdings in Abiomed were worth $107,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. M&T Bank Corp lifted its position in shares of Abiomed by 14.4% in the first quarter. M&T Bank Corp now owns 1,355 shares of the medical equipment provider’s stock worth $394,000 after purchasing an additional 171 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Abiomed by 2.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,993 shares of the medical equipment provider’s stock worth $2,617,000 after purchasing an additional 206 shares in the last quarter. Comerica Bank lifted its position in shares of Abiomed by 0.7% in the first quarter. Comerica Bank now owns 33,367 shares of the medical equipment provider’s stock worth $10,225,000 after purchasing an additional 223 shares in the last quarter. Tyers Asset Management LLC raised its position in Abiomed by 4.9% during the first quarter. Tyers Asset Management LLC now owns 4,816 shares of the medical equipment provider’s stock valued at $1,401,000 after acquiring an additional 224 shares in the last quarter. Finally, Bellevue Group AG raised its position in Abiomed by 0.9% during the first quarter. Bellevue Group AG now owns 27,250 shares of the medical equipment provider’s stock valued at $7,929,000 after acquiring an additional 250 shares in the last quarter. 87.79% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on ABMD. ValuEngine raised shares of Abiomed from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 3rd. Piper Jaffray Companies raised their price objective on shares of Abiomed to $360.00 and gave the company an “overweight” rating in a research report on Thursday, May 3rd. Zacks Investment Research raised shares of Abiomed from a “hold” rating to a “buy” rating and set a $338.00 price objective on the stock in a research report on Thursday, May 3rd. Morgan Stanley raised their price objective on shares of Abiomed from $259.00 to $320.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 1st. Finally, Goldman Sachs began coverage on shares of Abiomed in a research report on Wednesday, April 4th. They set a “buy” rating and a $332.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Abiomed currently has a consensus rating of “Buy” and an average target price of $325.00.
Shares of Abiomed opened at $384.36 on Monday, according to Marketbeat Ratings. Abiomed has a twelve month low of $132.63 and a twelve month high of $388.75. The company has a market cap of $17.02 billion, a P/E ratio of 160.82, a price-to-earnings-growth ratio of 4.15 and a beta of 0.18.
Abiomed (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, May 3rd. The medical equipment provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.16. Abiomed had a net margin of 18.89% and a return on equity of 17.58%. The company had revenue of $174.44 million for the quarter, compared to analyst estimates of $164.30 million. During the same quarter last year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 39.9% compared to the same quarter last year. equities analysts expect that Abiomed will post 3.43 EPS for the current year.
In other news, SVP William J. Bolt sold 22,790 shares of Abiomed stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $348.03, for a total value of $7,931,603.70. Following the transaction, the senior vice president now owns 66,414 shares of the company’s stock, valued at $23,114,064.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Martin P. Sutter sold 21,890 shares of the firm’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $343.50, for a total transaction of $7,519,215.00. Following the completion of the sale, the director now owns 46,668 shares in the company, valued at approximately $16,030,458. The disclosure for this sale can be found here. In the last three months, insiders sold 82,180 shares of company stock worth $26,949,944. Insiders own 7.00% of the company’s stock.
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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