Royce & Associates LP Buys 3,000 Shares of ABIOMED, Inc. (ABMD)
Royce & Associates LP raised its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the medical equipment provider’s stock after purchasing an additional 3,000 shares during the quarter. Royce & Associates LP’s holdings in ABIOMED were worth $2,866,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABMD. BlackRock Inc. boosted its holdings in ABIOMED by 10,945.5% during the first quarter. BlackRock Inc. now owns 3,270,245 shares of the medical equipment provider’s stock valued at $409,433,000 after purchasing an additional 3,240,638 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in ABIOMED by 184.3% during the first quarter. Baillie Gifford & Co. now owns 1,672,435 shares of the medical equipment provider’s stock valued at $209,389,000 after purchasing an additional 1,084,264 shares in the last quarter. Brown Capital Management LLC boosted its holdings in ABIOMED by 30.5% during the first quarter. Brown Capital Management LLC now owns 915,700 shares of the medical equipment provider’s stock valued at $114,646,000 after purchasing an additional 213,889 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new stake in ABIOMED during the second quarter valued at approximately $23,319,000. Finally, Renaissance Technologies LLC boosted its holdings in ABIOMED by 27.6% during the first quarter. Renaissance Technologies LLC now owns 668,700 shares of the medical equipment provider’s stock valued at $83,721,000 after purchasing an additional 144,800 shares in the last quarter. 89.84% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on ABMD. BidaskClub raised ABIOMED from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Jefferies Group LLC lifted their price objective on ABIOMED from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 4th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $160.00 price objective on shares of ABIOMED in a report on Tuesday, August 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $158.29.
In related news, Director Eric A. Md Rose sold 982 shares of ABIOMED stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $145.17, for a total value of $142,556.94. Following the transaction, the director now directly owns 13,634 shares of the company’s stock, valued at $1,979,247.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David M. Weber sold 16,500 shares of ABIOMED stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $147.63, for a total transaction of $2,435,895.00. Following the completion of the transaction, the chief operating officer now directly owns 125,122 shares in the company, valued at $18,471,760.86. The disclosure for this sale can be found here. Insiders sold 50,500 shares of company stock worth $7,603,342 over the last three months. 7.00% of the stock is currently owned by insiders.
ABIOMED, Inc. (NASDAQ ABMD) opened at 156.90 on Monday. The stock has a 50 day moving average price of $150.39 and a 200 day moving average price of $136.52. The firm has a market capitalization of $6.89 billion, a P/E ratio of 91.75 and a beta of 0.22. ABIOMED, Inc. has a one year low of $95.14 and a one year high of $157.88.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $132.47 million for the quarter, compared to analysts’ expectations of $130.83 million. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. On average, equities analysts predict that ABIOMED, Inc. will post $2.24 EPS for the current fiscal year.
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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