Abiomed, Inc. (NASDAQ:ABMD) VP Andrew J. Greenfield sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 29th. The stock was sold at an average price of $321.00, for a total value of $1,605,000.00. Following the transaction, the vice president now directly owns 26,930 shares in the company, valued at $8,644,530. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
NASDAQ ABMD opened at $324.20 on Friday. The stock’s fifty day moving average price is $279.37 and its 200 day moving average price is $278.80. Abiomed, Inc. has a 1 year low of $119.01 and a 1 year high of $328.83. The company has a market cap of $14.65 billion, a price-to-earnings ratio of 71.25, a PEG ratio of 3.82 and a beta of 1.36.
Abiomed (NASDAQ:ABMD) last released its earnings results on Tuesday, November 3rd. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.49. Abiomed had a return on equity of 15.34% and a net margin of 25.89%. The firm had revenue of $209.80 million for the quarter, compared to the consensus estimate of $202.89 million. During the same period in the prior year, the firm earned $0.28 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts predict that Abiomed, Inc. will post 3.78 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. LPL Financial LLC grew its position in Abiomed by 18.3% during the 3rd quarter. LPL Financial LLC now owns 15,998 shares of the medical equipment provider’s stock worth $4,432,000 after purchasing an additional 2,480 shares during the period. Public Sector Pension Investment Board grew its position in Abiomed by 25.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,451 shares of the medical equipment provider’s stock worth $1,510,000 after purchasing an additional 1,100 shares during the period. Independent Advisor Alliance purchased a new stake in shares of Abiomed during the 3rd quarter worth about $3,261,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Abiomed by 865.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,952 shares of the medical equipment provider’s stock worth $4,143,000 after acquiring an additional 13,403 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its stake in shares of Abiomed by 14.8% during the 3rd quarter. New Mexico Educational Retirement Board now owns 3,500 shares of the medical equipment provider’s stock worth $623,000 after acquiring an additional 450 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on the company. SVB Leerink upped their price target on Abiomed from $280.00 to $320.00 and gave the stock a “market perform” rating in a research report on Monday, December 21st. BidaskClub raised Abiomed from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Morgan Stanley upped their price target on Abiomed from $217.00 to $238.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Abiomed has an average rating of “Hold” and a consensus target price of $222.60.
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 a 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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