Los Angeles Capital Management & Equity Research Inc. acquired a new stake in ABIOMED, Inc. (NASDAQ:ABMD) during the first quarter, Holdings Channel reports. The institutional investor acquired 1,949 shares of the medical equipment provider’s stock, valued at approximately $244,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Planning increased its position in ABIOMED by 16.4% in the first quarter. Creative Planning now owns 916 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 129 shares during the last quarter. Advantage Investment Management LLC bought a new position in ABIOMED during the fourth quarter valued at about $150,000. Virginia Retirement Systems ET AL bought a new position in ABIOMED during the first quarter valued at about $200,000. Palladium Partners LLC bought a new position in ABIOMED during the first quarter valued at about $211,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in ABIOMED during the first quarter valued at about $231,000. Institutional investors own 91.34% of the company’s stock.
Shares of ABIOMED, Inc. (ABMD) opened at 144.46 on Wednesday. The company has a 50-day moving average of $137.13 and a 200-day moving average of $122.78. ABIOMED, Inc. has a 1-year low of $95.14 and a 1-year high of $147.45. The company has a market cap of $6.30 billion, a PE ratio of 123.47 and a beta of 0.25.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, May 4th. The medical equipment provider reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. ABIOMED had a net margin of 11.70% and a return on equity of 12.67%. The business had revenue of $124.68 million for the quarter, compared to analyst estimates of $122.82 million. During the same period last year, the firm earned $0.24 earnings per share. ABIOMED’s revenue for the quarter was up 32.7% compared to the same quarter last year. Equities analysts forecast that ABIOMED, Inc. will post $1.84 EPS for the current year.
Several research firms have recently issued reports on ABMD. William Blair restated an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. TheStreet upgraded shares of ABIOMED from a “c+” rating to a “b-” rating in a report on Tuesday, February 21st. Leerink Swann boosted their price objective on shares of ABIOMED from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 30th. Finally, Piper Jaffray Companies upgraded shares of ABIOMED from a “neutral” rating to an “overweight” rating and set a $145.00 price objective on the stock in a report on Thursday, April 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $151.00.
In related news, VP Michael G. Howley sold 18,279 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $133.56, for a total transaction of $2,441,343.24. Following the transaction, the vice president now directly owns 62,105 shares of the company’s stock, valued at $8,294,743.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael G. Howley sold 600 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $132.84, for a total transaction of $79,704.00. Following the transaction, the vice president now directly owns 48,305 shares in the company, valued at $6,416,836.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,629 shares of company stock worth $7,072,580. 10.00% of the stock is owned by insiders.
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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