Cambridge Investment Research Advisors Inc. purchased a new stake in ABIOMED, Inc. (NASDAQ:ABMD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,076 shares of the medical equipment provider’s stock, valued at approximately $1,530,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Huntington National Bank bought a new stake in ABIOMED in the second quarter worth $100,000. Seven Eight Capital LP bought a new stake in ABIOMED during the second quarter valued at about $100,000. Rehmann Capital Advisory Group bought a new stake in ABIOMED during the third quarter valued at about $202,000. Sigma Planning Corp bought a new stake in ABIOMED during the third quarter valued at about $206,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ABIOMED by 15.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock valued at $217,000 after acquiring an additional 197 shares during the period. 90.75% of the stock is currently owned by institutional investors.
ABIOMED, Inc. (ABMD) traded down $0.96 on Wednesday, reaching $187.00. 261,679 shares of the company’s stock traded hands, compared to its average volume of 339,819. The company has a current ratio of 5.84, a quick ratio of 5.20 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $8,310.00, a price-to-earnings ratio of 121.52, a PEG ratio of 2.52 and a beta of 0.15. ABIOMED, Inc. has a 12 month low of $103.53 and a 12 month high of $200.28.
ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.16. ABIOMED had a net margin of 18.27% and a return on equity of 13.89%. The company had revenue of $132.80 million for the quarter, compared to analyst estimates of $131.18 million. During the same period last year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. research analysts forecast that ABIOMED, Inc. will post 2.38 earnings per share for the current fiscal year.
In related news, Director Dorothy E. Puhy sold 6,364 shares of ABIOMED stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $179.08, for a total transaction of $1,139,665.12. Following the completion of the sale, the director now owns 39,532 shares of the company’s stock, valued at approximately $7,079,390.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew J. Greenfield sold 11,282 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $169.32, for a total transaction of $1,910,268.24. The disclosure for this sale can be found here. Insiders sold a total of 27,646 shares of company stock worth $4,836,333 over the last quarter. Company insiders own 7.00% of the company’s stock.
ABMD has been the subject of a number of research analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $160.00 price objective on shares of ABIOMED in a research report on Tuesday, August 29th. Zacks Investment Research lowered shares of ABIOMED from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Jefferies Group reissued a “buy” rating and issued a $175.00 price target on shares of ABIOMED in a research report on Tuesday, August 29th. BTIG Research lowered shares of ABIOMED from a “buy” rating to a “neutral” rating in a report on Monday, October 16th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $200.00 price objective (up from $180.00) on shares of ABIOMED in a research note on Thursday, October 12th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $185.38.
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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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