Steinberg Global Asset Management Invests $609,000 in ABIOMED, Inc. (ABMD)

Steinberg Global Asset Management acquired a new stake in ABIOMED, Inc. (NASDAQ:ABMD) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 1,355 shares of the medical equipment provider’s stock, valued at approximately $609,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in shares of ABIOMED by 65.0% in the second quarter. Wells Fargo & Company MN now owns 134,542 shares of the medical equipment provider’s stock valued at $55,034,000 after purchasing an additional 52,986 shares during the period. Private Advisor Group LLC acquired a new stake in shares of ABIOMED in the second quarter valued at about $1,515,000. Beech Hill Advisors Inc. lifted its stake in shares of ABIOMED by 100.0% in the third quarter. Beech Hill Advisors Inc. now owns 1,000 shares of the medical equipment provider’s stock valued at $450,000 after purchasing an additional 500 shares during the period. Columbus Circle Investors increased its holdings in ABIOMED by 179.7% during the 2nd quarter. Columbus Circle Investors now owns 64,442 shares of the medical equipment provider’s stock valued at $26,360,000 after acquiring an additional 41,403 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in ABIOMED by 4.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,184 shares of the medical equipment provider’s stock valued at $3,230,000 after acquiring an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Shares of NASDAQ ABMD opened at $376.94 on Friday. The stock 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, Inc. has a 12 month low of $186.72 and a 12 month high of $459.75.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.36. ABIOMED had a net margin of 25.71% and a return on equity of 18.91%. The business had revenue of $181.78 million during the quarter, compared to the consensus estimate of $175.41 million. During the same period in the previous year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. As a group, research analysts predict 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 firm’s stock in a transaction that occurred 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 through this hyperlink. Also, VP Andrew J. Greenfield sold 4,440 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was 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. 3.50% of the stock is currently owned by company insiders.

Several research firms have weighed in on ABMD. BTIG Research upgraded shares of ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 target price for the company in a report on Friday. Morgan Stanley lifted their price target on shares of ABIOMED from $370.00 to $396.00 and gave the stock an “equal weight” rating in a report on Thursday, October 11th. BidaskClub upgraded shares of ABIOMED from a “hold” rating to a “buy” rating in a report on Wednesday, September 5th. ValuEngine downgraded shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 18th. Finally, Zacks Investment Research downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $391.67.

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.

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Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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