Abiomed Inc. (ABMD) CEO Michael R. Minogue Sells 58,710 Shares of Stock
Abiomed Inc. (NASDAQ:ABMD) CEO Michael R. Minogue sold 58,710 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $127.00, for a total transaction of $7,456,170.00. Following the transaction, the chief executive officer now directly owns 215,782 shares of the company’s stock, valued at approximately $27,404,314. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Abiomed Inc. (NASDAQ:ABMD) opened at 126.90 on Thursday. The stock has a market cap of $5.43 billion, a PE ratio of 135.00 and a beta of 0.89. Abiomed Inc. has a one year low of $67.81 and a one year high of $127.19. The company has a 50-day moving average of $120.78 and a 200 day moving average of $106.06.
Abiomed (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. The company earned $103 million during the quarter, compared to analysts’ expectations of $97.23 million. Abiomed had a net margin of 11.75% and a return on equity of 11.86%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 EPS. On average, analysts predict that Abiomed Inc. will post $1.17 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Abiomed by 56.3% in the first quarter. State Street Corp now owns 1,316,168 shares of the company’s stock valued at $124,787,000 after buying an additional 474,209 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Abiomed by 2.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,160,974 shares of the company’s stock valued at $126,883,000 after buying an additional 23,236 shares in the last quarter. 1832 Asset Management L.P. raised its stake in Abiomed by 40.3% in the second quarter. 1832 Asset Management L.P. now owns 1,122,900 shares of the company’s stock valued at $201,891,000 after buying an additional 322,600 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Abiomed by 21.8% in the second quarter. Lord Abbett & CO. LLC now owns 829,341 shares of the company’s stock valued at $90,639,000 after buying an additional 148,400 shares in the last quarter. Finally, Brown Capital Management LLC raised its stake in Abiomed by 29.5% in the second quarter. Brown Capital Management LLC now owns 593,959 shares of the company’s stock valued at $64,914,000 after buying an additional 135,436 shares in the last quarter. 93.65% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on ABMD shares. Jefferies Group reaffirmed a “buy” rating and set a $125.00 target price on shares of Abiomed in a research note on Friday, June 10th. Zacks Investment Research raised shares of Abiomed from a “hold” rating to a “strong-buy” rating and set a $127.00 target price for the company in a research note on Tuesday, July 5th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Abiomed presently has a consensus rating of “Buy” and a consensus target price of $115.59.
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