ABIOMED, Inc. (ABMD) Stake Cut by Bank of America Corp DE
Bank of America Corp DE cut its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 50.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,596 shares of the medical equipment provider’s stock after selling 18,217 shares during the period. Bank of America Corp DE’s holdings in ABIOMED were worth $2,202,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning boosted its stake in ABIOMED by 16.4% in the first quarter. Creative Planning now owns 916 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 129 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in ABIOMED during the first quarter valued at approximately $200,000. Palladium Partners LLC purchased a new stake in ABIOMED during the first quarter valued at approximately $211,000. Campbell & CO Investment Adviser LLC purchased a new stake in ABIOMED during the first quarter valued at approximately $231,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in ABIOMED during the first quarter valued at approximately $244,000. 90.51% of the stock is owned by hedge funds and other institutional investors.
Shares of ABIOMED, Inc. (ABMD) traded up 0.91% during trading on Friday, hitting $151.37. 218,394 shares of the company’s stock were exchanged. ABIOMED, Inc. has a 1-year low of $95.14 and a 1-year high of $157.41. The firm has a market capitalization of $6.64 billion, a PE ratio of 88.52 and a beta of 0.20. The stock’s 50 day moving average is $145.53 and its 200 day moving average is $130.74.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.03. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. The company had revenue of $132.47 million for the quarter, compared to analyst estimates of $130.83 million. During the same quarter in the prior year, the business posted $0.29 EPS. ABIOMED’s quarterly revenue was up 28.6% on a year-over-year basis. On average, equities research analysts forecast that ABIOMED, Inc. will post $2.24 earnings per share for the current year.
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Several analysts have commented on the stock. BidaskClub raised shares of ABIOMED from a “hold” rating to a “buy” rating in a research note on Thursday. Jefferies Group LLC lifted their price target on shares of ABIOMED from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 4th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $160.00 price target (up previously from $145.00) on shares of ABIOMED in a report on Thursday, July 27th. William Blair reiterated an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. Finally, Zacks Investment Research lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $158.29.
In other news, VP Michael G. Howley sold 18,279 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $133.56, for a total transaction of $2,441,343.24. Following the transaction, the vice president now owns 62,105 shares in the company, valued at approximately $8,294,743.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO David M. Weber sold 16,500 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $147.63, for a total transaction of $2,435,895.00. Following the transaction, the chief operating officer now owns 125,122 shares in the company, valued at approximately $18,471,760.86. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.
ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.
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