Westpac Banking Corp Cuts Stock Position in ABIOMED, Inc. (NASDAQ:ABMD)

Westpac Banking Corp lessened its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 10.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 12,354 shares of the medical equipment provider’s stock after selling 1,418 shares during the quarter. Westpac Banking Corp’s holdings in ABIOMED were worth $3,218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABMD. Baillie Gifford & Co. grew its holdings in ABIOMED by 1.2% in the 1st quarter. Baillie Gifford & Co. now owns 1,081,431 shares of the medical equipment provider’s stock valued at $308,846,000 after buying an additional 12,572 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in shares of ABIOMED by 314.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 648,206 shares of the medical equipment provider’s stock valued at $185,120,000 after purchasing an additional 491,750 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ABIOMED by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 606,848 shares of the medical equipment provider’s stock valued at $196,924,000 after purchasing an additional 32,418 shares in the last quarter. Northern Trust Corp grew its position in shares of ABIOMED by 1.4% during the 1st quarter. Northern Trust Corp now owns 469,550 shares of the medical equipment provider’s stock valued at $134,099,000 after purchasing an additional 6,631 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its position in shares of ABIOMED by 330.0% during the 1st quarter. Artisan Partners Limited Partnership now owns 334,891 shares of the medical equipment provider’s stock valued at $95,642,000 after purchasing an additional 257,009 shares in the last quarter. 86.63% of the stock is owned by institutional investors.

NASDAQ ABMD opened at $193.01 on Friday. ABIOMED, Inc. has a 52-week low of $181.02 and a 52-week high of $459.75. The company has a market capitalization of $8.76 billion, a P/E ratio of 53.61, a P/E/G ratio of 1.68 and a beta of 0.31. The company has a fifty day moving average of $242.10 and a 200-day moving average of $280.70.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01. ABIOMED had a net margin of 32.35% and a return on equity of 19.84%. The company had revenue of $207.70 million during the quarter, compared to the consensus estimate of $210.96 million. During the same period in the previous year, the firm posted $1.95 EPS. The firm’s revenue was up 15.4% compared to the same quarter last year. As a group, sell-side analysts predict that ABIOMED, Inc. will post 4.3 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on the stock. William Blair reaffirmed a “buy” rating on shares of ABIOMED in a report on Friday, August 2nd. SunTrust Banks reaffirmed a “buy” rating and set a $340.00 price objective on shares of ABIOMED in a report on Friday, May 3rd. ValuEngine downgraded shares of ABIOMED from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. BTIG Research downgraded shares of ABIOMED from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Finally, Morgan Stanley downgraded shares of ABIOMED from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $325.00 to $215.00 in a report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. ABIOMED has a consensus rating of “Hold” and an average price target of $316.50.

In other ABIOMED news, COO David M. Weber sold 8,095 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.26, for a total value of $1,669,674.70. Following the completion of the sale, the chief operating officer now directly owns 132,913 shares of the company’s stock, valued at $27,414,635.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.40% of the company’s stock.

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.

Recommended Story: Average Daily Trade Volume Explained

Want to see what other hedge funds are holding ABMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ABIOMED, Inc. (NASDAQ:ABMD).

Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

Receive News & Ratings for ABIOMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABIOMED and related companies with MarketBeat.com's FREE daily email newsletter.