Crossmark Global Holdings Inc. Invests $1.20 Million in ABIOMED, Inc. (ABMD) Stock
Crossmark Global Holdings Inc. bought a new position in ABIOMED, Inc. (NASDAQ:ABMD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,090 shares of the medical equipment provider’s stock, valued at approximately $1,195,000.
Other institutional investors have also recently made changes to their positions in the company. Koch Industries Inc. increased its holdings in ABIOMED by 40,431.3% in the 2nd quarter. Koch Industries Inc. now owns 799,277 shares of the medical equipment provider’s stock worth $794,000 after buying an additional 797,305 shares during the period. Baillie Gifford & Co. lifted its position in shares of ABIOMED by 17.9% during the 2nd quarter. Baillie Gifford & Co. now owns 1,971,690 shares of the medical equipment provider’s stock valued at $282,543,000 after buying an additional 299,255 shares in the last quarter. FMR LLC purchased a new position in shares of ABIOMED during the 2nd quarter valued at approximately $32,609,000. Renaissance Technologies LLC lifted its position in shares of ABIOMED by 33.6% during the 2nd quarter. Renaissance Technologies LLC now owns 893,223 shares of the medical equipment provider’s stock valued at $127,999,000 after buying an additional 224,523 shares in the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new position in shares of ABIOMED during the 2nd quarter valued at approximately $23,319,000. Institutional investors and hedge funds own 90.58% of the company’s stock.
In other ABIOMED news, VP Andrew J. Greenfield sold 11,282 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eric A. Md Rose sold 982 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $145.17, for a total value of $142,556.94. Following the completion of the sale, the director now owns 13,634 shares of the company’s stock, valued at approximately $1,979,247.78. The disclosure for this sale can be found here. Insiders have sold 61,646 shares of company stock valued at $10,003,780 over the last 90 days. 7.00% of the stock is currently owned by insiders.
A number of analysts recently issued reports on the company. SunTrust Banks, Inc. assumed coverage on ABIOMED in a research report on Friday, September 29th. They set a “buy” rating and a $195.00 price objective for the company. BTIG Research cut ABIOMED from a “buy” rating to a “neutral” rating in a report on Monday, October 16th. BidaskClub cut ABIOMED from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Jefferies Group LLC raised their target price on ABIOMED from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Zacks Investment Research upgraded ABIOMED from a “sell” rating to a “buy” rating and set a $203.00 target price for the company in a report on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. ABIOMED presently has a consensus rating of “Buy” and an average price target of $185.38.
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Shares of ABIOMED, Inc. (NASDAQ:ABMD) opened at $195.54 on Friday. The company has a current ratio of 5.84, a quick ratio of 5.20 and a debt-to-equity ratio of 0.02. ABIOMED, Inc. has a 12-month low of $103.53 and a 12-month high of $198.29. The company has a market capitalization of $8,709.25, a price-to-earnings ratio of 126.26, a price-to-earnings-growth ratio of 2.62 and a beta of 0.23.
ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.16. The firm had revenue of $132.80 million during the quarter, compared to analyst estimates of $131.18 million. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 earnings per share. equities analysts predict that ABIOMED, Inc. will post 2.38 EPS for the current 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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