Clinton Group Inc. Decreases Position in ABIOMED, Inc. (ABMD)
Clinton Group Inc. trimmed its holdings in ABIOMED, Inc. (NASDAQ:ABMD) by 9.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,623 shares of the medical equipment provider’s stock after selling 1,172 shares during the quarter. Clinton Group Inc.’s holdings in ABIOMED were worth $1,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of ABMD. Huntington National Bank purchased a new stake in shares of ABIOMED in the second quarter worth $100,000. Seven Eight Capital LP bought a new position in shares of ABIOMED during the second quarter valued at $100,000. Virginia Retirement Systems ET AL bought a new position in shares of ABIOMED during the first quarter valued at $200,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of ABIOMED by 15.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock valued at $217,000 after acquiring an additional 197 shares in the last quarter. Finally, Private Bank & Trust Co. bought a new position in shares of ABIOMED during the second quarter valued at $226,000. Institutional investors own 89.69% of the company’s stock.
Shares of ABIOMED, Inc. (NASDAQ:ABMD) opened at 169.33 on Wednesday. ABIOMED, Inc. has a 12-month low of $95.14 and a 12-month high of $171.39. The company has a 50-day moving average price of $156.31 and a 200 day moving average price of $141.85. The company has a market capitalization of $7.47 billion, a P/E ratio of 99.02 and a beta of 0.27.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $132.47 million during the quarter, compared to analysts’ expectations of $130.83 million. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The firm’s revenue was up 28.6% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. On average, equities analysts anticipate that ABIOMED, Inc. will post $2.24 earnings per share for the current fiscal year.
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ABMD has been the topic of a number of analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 price target (up previously from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. SunTrust Banks, Inc. began coverage on shares of ABIOMED in a research note on Friday, September 29th. They set a “buy” rating and a $195.00 price objective for the company. Zacks Investment Research lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub cut shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Jefferies Group LLC lifted their target price on shares of ABIOMED from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $167.00.
In related news, Director Eric A. Md Rose sold 23,018 shares of ABIOMED stock in a transaction that occurred on 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 directly owns 24,652 shares in the company, valued at approximately $3,724,670.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David M. Weber sold 16,500 shares of ABIOMED stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $147.63, for a total transaction of $2,435,895.00. Following the completion of the sale, 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. Insiders have sold 50,500 shares of company stock worth $7,603,342 in the last 90 days. Insiders own 7.00% of the company’s stock.
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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