Nisa Investment Advisors LLC grew its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 27.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,870 shares of the medical equipment provider’s stock after buying an additional 1,920 shares during the period. Nisa Investment Advisors LLC’s holdings in ABIOMED were worth $2,143,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of ABMD. Synovus Financial Corp boosted its holdings in ABIOMED by 60.6% during the first quarter. Synovus Financial Corp now owns 212 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 80 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its holdings in ABIOMED by 100.0% during the first quarter. Sugarloaf Wealth Management LLC now owns 250 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 125 shares during the last quarter. Bainco International Investors bought a new position in shares of ABIOMED during the 1st quarter valued at about $39,000. Quadrant Capital Group LLC lifted its holdings in shares of ABIOMED by 107.1% during the 4th quarter. Quadrant Capital Group LLC now owns 261 shares of the medical equipment provider’s stock valued at $43,000 after purchasing an additional 135 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new position in shares of ABIOMED during the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 94.43% of the company’s stock.
ABMD has been the topic of several recent analyst reports. BidaskClub upgraded ABIOMED from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Zacks Investment Research cut ABIOMED from a “hold” rating to a “sell” rating and set a $160.00 price objective on the stock. in a report on Wednesday, April 8th. Morgan Stanley lifted their price objective on ABIOMED from $149.00 to $152.00 and gave the company an “underweight” rating in a report on Friday, May 1st. SVB Leerink lifted their price objective on ABIOMED from $195.00 to $225.00 and gave the company a “market perform” rating in a report on Thursday, May 28th. Finally, OTR Global upgraded ABIOMED to a “positive” rating in a report on Monday, July 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. ABIOMED has an average rating of “Hold” and an average price target of $186.40.
In other ABIOMED news, Director Dorothy E. Puhy sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $275.00, for a total transaction of $2,062,500.00. Following the transaction, the director now owns 7,652 shares of the company’s stock, valued at approximately $2,104,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is owned by insiders.
Shares of ABIOMED stock opened at $299.94 on Friday. The business’s 50 day simple moving average is $265.61 and its 200 day simple moving average is $198.10. ABIOMED, Inc. has a 52-week low of $119.01 and a 52-week high of $302.97. The firm has a market cap of $13.51 billion, a PE ratio of 67.86, a P/E/G ratio of 4.79 and a beta of 0.94.
ABIOMED (NASDAQ:ABMD) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.26). ABIOMED had a net margin of 24.14% and a return on equity of 18.51%. The firm had revenue of $206.66 million during the quarter, compared to analyst estimates of $209.58 million. During the same period in the prior year, the business posted $1.60 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. As a group, analysts anticipate that ABIOMED, Inc. will post 3.21 EPS for the current fiscal year.
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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