ABIOMED, Inc. (ABMD) Chairman Michael R. Minogue Sells 105,000 Shares of Stock

ABIOMED, Inc. (NASDAQ:ABMD) Chairman Michael R. Minogue sold 105,000 shares of ABIOMED stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $439.69, for a total value of $46,167,450.00. Following the transaction, the chairman now owns 481,150 shares of the company’s stock, valued at approximately $211,556,843.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ABIOMED opened at $416.20 on Tuesday, Marketbeat reports. ABIOMED, Inc. has a 1-year low of $139.49 and a 1-year high of $450.93. The firm has a market capitalization of $19.01 billion, a PE ratio of 169.88, a price-to-earnings-growth ratio of 4.52 and a beta of 0.21.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, May 3rd. The medical equipment provider reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.16. ABIOMED had a return on equity of 17.58% and a net margin of 18.89%. The firm had revenue of $174.44 million during the quarter, compared to analysts’ expectations of $164.30 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The company’s revenue was up 39.9% on a year-over-year basis. research analysts expect that ABIOMED, Inc. will post 3.5 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of ABIOMED by 13.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 69,522 shares of the medical equipment provider’s stock worth $13,029,000 after acquiring an additional 8,059 shares during the period. First Allied Advisory Services Inc. grew its holdings in shares of ABIOMED by 36.4% in the fourth quarter. First Allied Advisory Services Inc. now owns 1,913 shares of the medical equipment provider’s stock worth $356,000 after acquiring an additional 511 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of ABIOMED by 87.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,595 shares of the medical equipment provider’s stock worth $674,000 after acquiring an additional 1,682 shares during the period. BlackRock Inc. grew its holdings in shares of ABIOMED by 2.1% in the fourth quarter. BlackRock Inc. now owns 3,525,206 shares of the medical equipment provider’s stock worth $660,658,000 after acquiring an additional 74,020 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of ABIOMED by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 106,597 shares of the medical equipment provider’s stock worth $19,977,000 after acquiring an additional 581 shares during the period. Hedge funds and other institutional investors own 86.92% of the company’s stock.

ABMD has been the subject of a number of recent research reports. Goldman Sachs Group initiated coverage on ABIOMED in a research note on Wednesday, April 4th. They set a “buy” rating and a $332.00 price objective for the company. Zacks Investment Research upgraded ABIOMED from a “hold” rating to a “strong-buy” rating and set a $335.00 price objective for the company in a research note on Tuesday, April 3rd. ValuEngine upgraded ABIOMED from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Jefferies Financial Group boosted their price target on ABIOMED to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, May 29th. Finally, Piper Jaffray Companies boosted their price target on ABIOMED to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, May 3rd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. ABIOMED presently has a consensus rating of “Buy” and a consensus price target of $360.00.

About ABIOMED

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.

Insider Buying and Selling by Quarter for ABIOMED (NASDAQ:ABMD)

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