Bank of New York Mellon Corp reduced its holdings in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 24.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 636,290 shares of the medical equipment provider’s stock after selling 207,968 shares during the quarter. Bank of New York Mellon Corp owned 1.42% of ABIOMED worth $260,274,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABMD. Renaissance Technologies LLC grew its stake in ABIOMED by 35.0% during the second quarter. Renaissance Technologies LLC now owns 1,551,423 shares of the medical equipment provider’s stock worth $634,610,000 after buying an additional 401,800 shares during the period. FMR LLC lifted its position in shares of ABIOMED by 34.2% during the second quarter. FMR LLC now owns 691,818 shares of the medical equipment provider’s stock worth $282,988,000 after purchasing an additional 176,394 shares in the last quarter. Carillon Tower Advisers Inc. lifted its position in shares of ABIOMED by 77.0% during the second quarter. Carillon Tower Advisers Inc. now owns 400,348 shares of the medical equipment provider’s stock worth $163,762,000 after purchasing an additional 174,198 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of ABIOMED during the second quarter worth $58,965,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of ABIOMED by 231.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 142,969 shares of the medical equipment provider’s stock worth $58,482,000 after purchasing an additional 99,780 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.
A number of research analysts have recently commented on ABMD shares. BidaskClub raised shares of ABIOMED from a “hold” rating to a “buy” rating in a research report on Wednesday, September 5th. Zacks Investment Research cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. ValuEngine cut shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. Finally, Morgan Stanley boosted their target price on shares of ABIOMED from $370.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $384.38.
NASDAQ ABMD opened at $376.94 on Friday. ABIOMED, Inc. has a 52 week low of $186.72 and a 52 week high of $459.75. The firm has a market cap of $14.86 billion, a PE ratio of 153.85, a PEG ratio of 3.54 and a beta of 0.03.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.36. The firm had revenue of $181.78 million for the quarter, compared to analysts’ expectations of $175.41 million. ABIOMED had a net margin of 25.71% and a return on equity of 18.91%. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. Research analysts anticipate that ABIOMED, Inc. will post 3.46 EPS for the current year.
In related news, VP Michael G. Howley sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $432.50, for a total value of $4,325,000.00. Following the sale, the vice president now directly owns 48,954 shares of the company’s stock, valued at $21,172,605. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew J. Greenfield sold 4,440 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $395.00, for a total transaction of $1,753,800.00. The disclosure for this sale can be found here. Corporate insiders own 3.50% 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; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.
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