Capstone Asset Management Co. Boosts Position in ABIOMED, Inc. (NASDAQ:ABMD)
Capstone Asset Management Co. increased its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 1.1% during the second quarter, Holdings Channel reports. The fund owned 6,410 shares of the medical equipment provider’s stock after buying an additional 70 shares during the period. Capstone Asset Management Co.’s holdings in ABIOMED were worth $919,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of ABMD. Fox Run Management L.L.C. bought a new stake in ABIOMED during the second quarter worth about $588,000. Handelsbanken Fonder AB bought a new stake in ABIOMED during the second quarter worth about $1,146,000. Nuveen Asset Management LLC increased its stake in ABIOMED by 575.0% in the first quarter. Nuveen Asset Management LLC now owns 76,062 shares of the medical equipment provider’s stock worth $9,523,000 after buying an additional 64,793 shares during the last quarter. Macquarie Group Ltd. increased its stake in ABIOMED by 14.7% in the first quarter. Macquarie Group Ltd. now owns 473,362 shares of the medical equipment provider’s stock worth $59,265,000 after buying an additional 60,682 shares during the last quarter. Finally, Palo Alto Investors LLC increased its stake in ABIOMED by 0.9% in the first quarter. Palo Alto Investors LLC now owns 1,921,484 shares of the medical equipment provider’s stock worth $240,570,000 after buying an additional 17,900 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.
ABIOMED, Inc. (ABMD) opened at 144.10 on Monday. The stock has a market capitalization of $6.28 billion, a PE ratio of 123.16 and a beta of 0.20. The stock’s 50 day moving average is $142.73 and its 200-day moving average is $126.90. ABIOMED, Inc. has a 52 week low of $95.14 and a 52 week high of $147.45.
ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, May 4th. The medical equipment provider reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. ABIOMED had a net margin of 11.70% and a return on equity of 12.67%. The business had revenue of $124.68 million during the quarter, compared to analyst estimates of $122.82 million. During the same period in the prior year, the business earned $0.24 earnings per share. The business’s quarterly revenue was up 32.7% on a year-over-year basis. Equities research analysts forecast that ABIOMED, Inc. will post $1.84 EPS for the current year.
A number of research firms have recently issued reports on ABMD. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “strong-buy” rating and set a $163.00 price target for the company in a research report on Thursday, July 13th. Morgan Stanley reiterated an “equal weight” rating and set a $140.00 price target (up from $135.00) on shares of ABIOMED in a research report on Monday, July 10th. Piper Jaffray Companies set a $145.00 price target on shares of ABIOMED in a research report on Tuesday, July 4th. BidaskClub downgraded shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Finally, William Blair reiterated an “outperform” rating on shares of ABIOMED in a research report on Thursday, June 8th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. ABIOMED has an average rating of “Buy” and a consensus target price of $151.86.
In related news, COO David M. Weber sold 21,250 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $130.89, for a total value of $2,781,412.50. Following the completion of the sale, the chief operating officer now owns 123,771 shares in the company, valued at approximately $16,200,386.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael G. Howley sold 18,279 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 62,105 shares of the company’s stock, valued at approximately $8,294,743.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,629 shares of company stock valued at $7,072,580. Company insiders own 7.00% of the company’s stock.
ABIOMED Company Profile
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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