FormulaFolio Investments LLC cut its stake in Abiomed, Inc. (NASDAQ:ABMD) by 19.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,588 shares of the medical equipment provider’s stock after selling 374 shares during the period. FormulaFolio Investments LLC’s holdings in Abiomed were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Retirement Systems of Alabama boosted its stake in Abiomed by 12.0% in the 4th quarter. Retirement Systems of Alabama now owns 43,742 shares of the medical equipment provider’s stock worth $14,181,000 after purchasing an additional 4,703 shares in the last quarter. Barclays PLC lifted its stake in Abiomed by 58.8% during the 4th quarter. Barclays PLC now owns 41,174 shares of the medical equipment provider’s stock valued at $13,349,000 after acquiring an additional 15,251 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Abiomed in the 4th quarter valued at $1,352,000. Public Sector Pension Investment Board lifted its stake in shares of Abiomed by 25.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 5,451 shares of the medical equipment provider’s stock valued at $1,510,000 after purchasing an additional 1,100 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Abiomed by 0.8% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 60,660 shares of the medical equipment provider’s stock valued at $19,666,000 after purchasing an additional 453 shares during the period. Institutional investors own 93.95% of the company’s stock.
Shares of ABMD stock opened at $320.62 on Thursday. The company’s 50-day moving average price is $310.54 and its 200-day moving average price is $297.35. The stock has a market cap of $14.50 billion, a price-to-earnings ratio of 70.47, a PEG ratio of 4.15 and a beta of 1.41. Abiomed, Inc. has a twelve month low of $151.46 and a twelve month high of $387.40.
Several equities analysts recently issued reports on the stock. TheStreet upgraded shares of Abiomed from a “c+” rating to a “b-” rating in a research note on Friday, January 15th. Piper Sandler boosted their target price on shares of Abiomed from $350.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, January 28th. Morgan Stanley boosted their price target on shares of Abiomed from $238.00 to $245.00 and gave the stock an “underweight” rating in a report on Friday, January 29th. Finally, SVB Leerink boosted their price target on shares of Abiomed from $320.00 to $375.00 and gave the stock a “market perform” rating in a report on Friday, January 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $301.25.
In related news, VP Andrew J. Greenfield sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 28th. The shares were sold at an average price of $366.00, for a total transaction of $1,830,000.00. Following the sale, the vice president now directly owns 36,930 shares in the company, valued at $13,516,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is currently owned by corporate insiders.
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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