Arrowstreet Capital Limited Partnership Has $3.80 Million Position in ABIOMED, Inc. (ABMD)
Arrowstreet Capital Limited Partnership lowered its position in ABIOMED, Inc. (NASDAQ:ABMD) by 82.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,500 shares of the medical equipment provider’s stock after selling 122,514 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.06% of ABIOMED worth $3,797,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in ABMD. Parametric Portfolio Associates LLC grew its holdings in shares of ABIOMED by 4.3% in the first quarter. Parametric Portfolio Associates LLC now owns 43,001 shares of the medical equipment provider’s stock valued at $5,384,000 after purchasing an additional 1,789 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of ABIOMED by 21.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,221 shares of the medical equipment provider’s stock valued at $404,000 after purchasing an additional 558 shares during the period. KBC Group NV purchased a new stake in shares of ABIOMED in the first quarter valued at about $388,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of ABIOMED in the first quarter valued at about $244,000. Finally, Stifel Financial Corp grew its holdings in shares of ABIOMED by 4.3% in the first quarter. Stifel Financial Corp now owns 3,918 shares of the medical equipment provider’s stock valued at $496,000 after purchasing an additional 163 shares during the period. 89.37% of the stock is owned by hedge funds and other institutional investors.
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ABIOMED, Inc. (NASDAQ ABMD) opened at 172.47 on Wednesday. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 100.86 and a beta of 0.27. ABIOMED, Inc. has a 12 month low of $95.14 and a 12 month high of $175.71. The stock’s 50 day moving average is $161.28 and its 200-day moving average is $144.70.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The business had revenue of $132.47 million during the quarter, compared to the consensus estimate of $130.83 million. During the same period in the previous year, the business earned $0.29 EPS. The business’s quarterly revenue was up 28.6% on a year-over-year basis. On average, equities research analysts expect that ABIOMED, Inc. will post $2.24 earnings per share for the current year.
In related news, VP Andrew J. Greenfield sold 11,282 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $169.32, for a total transaction of $1,910,268.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David M. Weber sold 16,500 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $147.63, for a total value of $2,435,895.00. Following the transaction, the chief operating officer now owns 125,122 shares of the company’s stock, valued at $18,471,760.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,782 shares of company stock valued at $9,513,610. 7.00% of the stock is owned by company insiders.
ABMD has been the subject of a number of analyst reports. Piper Jaffray Companies reissued a “buy” rating and issued a $160.00 price objective on shares of ABIOMED in a report on Tuesday, August 29th. Jefferies Group LLC reissued a “buy” rating and issued a $175.00 price objective on shares of ABIOMED in a report on Tuesday, August 29th. Zacks Investment Research lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Morgan Stanley reissued an “equal weight” rating and issued a $140.00 price objective (up previously from $135.00) on shares of ABIOMED in a report on Monday, July 10th. Finally, BidaskClub lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. ABIOMED presently has a consensus rating of “Buy” and an average price target of $173.25.
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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