Sei Investments Co. cut its holdings in ABIOMED, Inc. (NASDAQ:ABMD) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,284 shares of the medical equipment provider’s stock after selling 2,373 shares during the period. Sei Investments Co. owned about 0.34% of ABIOMED worth $25,338,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank bought a new position in shares of ABIOMED in the second quarter valued at approximately $100,000. Seven Eight Capital LP purchased a new position in ABIOMED in the second quarter valued at approximately $100,000. Rehmann Capital Advisory Group purchased a new position in ABIOMED in the third quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ABIOMED by 15.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock valued at $217,000 after purchasing an additional 197 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new position in ABIOMED in the third quarter valued at approximately $263,000. 90.46% of the stock is owned by institutional investors.
In related news, Director Dorothy E. Puhy sold 6,364 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $179.08, for a total value of $1,139,665.12. Following the sale, the director now owns 39,532 shares in the company, valued at $7,079,390.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew J. Greenfield sold 11,282 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $169.32, for a total value of $1,910,268.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,646 shares of company stock worth $10,003,780. Company insiders own 7.00% of the company’s stock.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded ABIOMED from a “hold” rating to a “buy” rating and set a $220.00 price objective on the stock in a research note on Tuesday, November 7th. Jefferies Group LLC upped their price objective on ABIOMED from $175.00 to $208.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Piper Jaffray Companies reiterated a “buy” rating and issued a $160.00 price objective on shares of ABIOMED in a research note on Tuesday, August 29th. BidaskClub upgraded ABIOMED from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, BTIG Research reiterated a “hold” rating on shares of ABIOMED in a research note on Sunday, October 29th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $185.38.
ABIOMED, Inc. (NASDAQ ABMD) traded down $0.33 during trading hours on Monday, hitting $195.21. The company’s stock had a trading volume of 176,400 shares, compared to its average volume of 336,893. The stock has a market capitalization of $8,631.43, a P/E ratio of 125.14, a P/E/G ratio of 2.60 and a beta of 0.23. ABIOMED, Inc. has a 12-month low of $103.53 and a 12-month high of $198.29. 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 (NASDAQ:ABMD) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.16. The firm had revenue of $132.80 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share. equities analysts forecast that ABIOMED, Inc. will post 2.38 earnings per share for the current year.
ABIOMED Company Profile
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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