Eric A. Md Rose Sells 23,018 Shares of ABIOMED, Inc. (ABMD) Stock
ABIOMED, Inc. (NASDAQ:ABMD) Director Eric A. Md Rose sold 23,018 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $151.09, for a total value of $3,477,789.62. Following the completion of the sale, the director now owns 24,652 shares of the company’s stock, valued at $3,724,670.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
ABIOMED, Inc. (NASDAQ ABMD) traded up 0.16% during trading on Monday, reaching $147.90. The company’s stock had a trading volume of 295,334 shares. The firm has a market cap of $6.49 billion, a PE ratio of 86.49 and a beta of 0.20. The company has a 50-day moving average of $148.41 and a 200 day moving average of $133.94. ABIOMED, Inc. has a one year low of $95.14 and a one year high of $157.41.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. The firm had revenue of $132.47 million for the quarter, compared to the consensus estimate of $130.83 million. During the same quarter in the previous year, the firm earned $0.29 EPS. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. Analysts expect that ABIOMED, Inc. will post $2.24 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Huntington National Bank purchased a new position in shares of ABIOMED during the second quarter worth about $100,000. Seven Eight Capital LP purchased a new position in shares of ABIOMED during the second quarter worth about $100,000. Creative Planning increased its position in shares of ABIOMED by 16.4% in the first quarter. Creative Planning now owns 916 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 129 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of ABIOMED during the first quarter worth about $200,000. Finally, Palladium Partners LLC purchased a new position in shares of ABIOMED during the first quarter worth about $211,000. 89.84% of the stock is currently owned by hedge funds and other institutional investors.
ABMD has been the subject of several research reports. Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Piper Jaffray Companies set a $145.00 target price on ABIOMED in a research note on Tuesday, July 4th. Morgan Stanley restated an “equal weight” rating and issued a $140.00 target price (up from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. BidaskClub downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC raised their target price on ABIOMED from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. ABIOMED has an average rating of “Buy” and an average target price of $158.29.
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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