Cortina Asset Management LLC increased its position in ABIOMED, Inc. (NASDAQ:ABMD) by 7.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 141,793 shares of the company’s stock after buying an additional 10,043 shares during the period. Cortina Asset Management LLC’s holdings in ABIOMED were worth $15,977,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of ABMD. Lord Abbett & CO. LLC boosted its stake in ABIOMED by 21.8% in the second quarter. Lord Abbett & CO. LLC now owns 829,341 shares of the company’s stock worth $90,639,000 after buying an additional 148,400 shares in the last quarter. Coe Capital Management LLC bought a new stake in ABIOMED during the second quarter worth about $3,107,000. WFG Advisors LP boosted its stake in ABIOMED by 0.7% in the second quarter. WFG Advisors LP now owns 7,581 shares of the company’s stock worth $829,000 after buying an additional 51 shares in the last quarter. Timpani Capital Management LLC bought a new stake in ABIOMED during the second quarter worth about $3,148,000. Finally, BlackRock Advisors LLC boosted its stake in ABIOMED by 38.5% in the second quarter. BlackRock Advisors LLC now owns 36,169 shares of the company’s stock worth $3,953,000 after buying an additional 10,051 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.
Shares of ABIOMED, Inc. (NASDAQ:ABMD) traded up 1.65% during mid-day trading on Tuesday, reaching $109.15. 292,311 shares of the company’s stock traded hands. The firm has a 50-day moving average of $111.08 and a 200 day moving average of $116.70. The company has a market cap of $4.74 billion, a P/E ratio of 102.10 and a beta of 0.51. ABIOMED, Inc. has a 12-month low of $70.75 and a 12-month high of $132.95.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, January 26th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. ABIOMED had a return on equity of 12.35% and a net margin of 11.63%. The company earned $114.70 million during the quarter, compared to analyst estimates of $112.71 million. During the same quarter last year, the firm posted $0.23 earnings per share. The firm’s revenue was up 33.1% on a year-over-year basis. Equities analysts forecast that ABIOMED, Inc. will post $1.18 EPS for the current year.
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A number of analysts have recently issued reports on the stock. Zacks Investment Research cut shares of ABIOMED from a “hold” rating to a “sell” rating in a research note on Thursday, January 5th. BTIG Research restated a “buy” rating and set a $170.00 target price on shares of ABIOMED in a research note on Sunday, January 8th. Guggenheim assumed coverage on shares of ABIOMED in a research note on Tuesday, December 6th. They set a “buy” rating and a $150.00 target price for the company. Finally, TheStreet cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Thursday, October 27th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $146.83.
In related news, Director Dorothy E. Puhy sold 8,000 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $120.00, for a total value of $960,000.00. Following the completion of the sale, the director now owns 32,749 shares of the company’s stock, valued at $3,929,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.00% 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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