New York State Common Retirement Fund grew its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 313,590 shares of the medical equipment provider’s stock after buying an additional 5,719 shares during the quarter. New York State Common Retirement Fund owned approximately 0.71% of ABIOMED worth $52,871,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Seven Eight Capital LP purchased a new stake in ABIOMED in the second quarter worth about $100,000. Rehmann Capital Advisory Group purchased a new stake in ABIOMED in the third quarter worth about $202,000. CIBC Asset Management Inc purchased a new stake in ABIOMED in the third quarter worth about $248,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 worth $217,000 after buying an additional 197 shares in the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in ABIOMED in the third quarter worth about $263,000. Institutional investors and hedge funds own 90.75% of the company’s stock.
A number of brokerages have commented on ABMD. BidaskClub upgraded ABIOMED from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Jefferies Group upped their price target on ABIOMED from $175.00 to $208.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. SunTrust Banks restated a “buy” rating and issued a $195.00 price target on shares of ABIOMED in a research report on Wednesday, November 1st. BTIG Research reiterated a “hold” rating on shares of ABIOMED in a research report on Sunday, October 29th. 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 research report on Monday, October 30th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $185.38.
Shares of ABIOMED, Inc. (NASDAQ:ABMD) opened at $187.96 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.20 and a current ratio of 5.84. ABIOMED, Inc. has a 1 year low of $103.53 and a 1 year high of $200.28. The stock has a market capitalization of $8,380.00, a PE ratio of 124.74, a P/E/G ratio of 2.59 and a beta of 0.15.
ABIOMED (NASDAQ:ABMD) last released 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. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The firm had revenue of $132.80 million during the quarter, compared to analysts’ expectations of $131.18 million. During the same quarter last year, the business posted $0.20 earnings per share. The firm’s revenue was up 28.9% on a year-over-year basis. analysts forecast that ABIOMED, Inc. will post 2.38 EPS for the current fiscal year.
In other ABIOMED news, VP Andrew J. Greenfield sold 11,282 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $169.32, for a total transaction of $1,910,268.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dorothy E. Puhy sold 6,364 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $179.08, for a total value of $1,139,665.12. Following the transaction, the director now owns 39,532 shares of the company’s stock, valued at approximately $7,079,390.56. The disclosure for this sale can be found here. Insiders have sold 27,646 shares of company stock valued at $4,836,333 in the last quarter. 7.00% of the stock is currently owned by company insiders.
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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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