Neuberger Berman Group LLC cut its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 150,086 shares of the medical equipment provider’s stock after selling 582 shares during the quarter. Neuberger Berman Group LLC’s holdings in ABIOMED were worth $42,863,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc raised its holdings in ABIOMED by 5.9% during the third quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock worth $2,090,091,000 after purchasing an additional 260,829 shares during the last quarter. BlackRock Inc. increased its position in ABIOMED by 1.5% during the fourth quarter. BlackRock Inc. now owns 3,165,242 shares of the medical equipment provider’s stock worth $1,028,829,000 after buying an additional 47,673 shares in the last quarter. Baillie Gifford & Co. increased its position in ABIOMED by 1.2% during the first quarter. Baillie Gifford & Co. now owns 1,081,431 shares of the medical equipment provider’s stock worth $308,846,000 after buying an additional 12,572 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its position in ABIOMED by 0.5% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 642,283 shares of the medical equipment provider’s stock worth $208,767,000 after buying an additional 3,427 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in ABIOMED by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 606,848 shares of the medical equipment provider’s stock worth $196,924,000 after buying an additional 32,418 shares in the last quarter. 87.13% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on ABMD shares. BidaskClub downgraded ABIOMED from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. SunTrust Banks reissued a “buy” rating and set a $340.00 price target on shares of ABIOMED in a research report on Friday, May 3rd. ValuEngine downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Zacks Investment Research downgraded ABIOMED from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Finally, BTIG Research reissued a “buy” rating on shares of ABIOMED in a research report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $398.40.
ABIOMED stock traded down $3.24 during mid-day trading on Thursday, hitting $251.30. 2,607 shares of the company were exchanged, compared to its average volume of 673,409. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 70.08, a PEG ratio of 2.08 and a beta of 0.39. ABIOMED, Inc. has a 12-month low of $228.00 and a 12-month high of $459.75.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.53. The company had revenue of $207.08 million during the quarter, compared to the consensus estimate of $218.88 million. ABIOMED had a return on equity of 20.32% and a net margin of 33.66%. ABIOMED’s revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. Research analysts anticipate that ABIOMED, Inc. will post 4.5 earnings per share for the current fiscal year.
In other news, Director Martin P. Sutter sold 4,664 shares of ABIOMED stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $259.97, for a total value of $1,212,500.08. Following the completion of the sale, the director now owns 192,550 shares of the company’s stock, valued at $50,057,223.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.50% of the stock is owned by insiders.
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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; 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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