Eagle Asset Management Inc. increased its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 8.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 259,689 shares of the medical equipment provider’s stock after acquiring an additional 20,625 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.59% of ABIOMED worth $49,733,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Baillie Gifford & Co. increased its holdings in ABIOMED by 0.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,976,961 shares of the medical equipment provider’s stock worth $333,316,000 after acquiring an additional 5,271 shares in the last quarter. Janus Henderson Group PLC increased its holdings in ABIOMED by 102.0% in the 3rd quarter. Janus Henderson Group PLC now owns 1,076,829 shares of the medical equipment provider’s stock worth $181,553,000 after acquiring an additional 543,793 shares in the last quarter. State Street Corp increased its holdings in ABIOMED by 2.3% in the 2nd quarter. State Street Corp now owns 1,071,191 shares of the medical equipment provider’s stock worth $153,502,000 after acquiring an additional 23,933 shares in the last quarter. American Century Companies Inc. increased its holdings in ABIOMED by 99.0% in the 4th quarter. American Century Companies Inc. now owns 963,517 shares of the medical equipment provider’s stock worth $180,573,000 after acquiring an additional 479,375 shares in the last quarter. Finally, Scout Investments Inc. increased its holdings in ABIOMED by 3.3% in the 3rd quarter. Scout Investments Inc. now owns 551,949 shares of the medical equipment provider’s stock worth $93,059,000 after acquiring an additional 17,706 shares in the last quarter. 90.35% of the stock is owned by institutional investors.
Several brokerages recently commented on ABMD. SunTrust Banks reissued a “buy” rating and issued a $370.00 price target on shares of ABIOMED in a report on Friday. Piper Jaffray Companies reissued a “positive” rating and issued a $300.00 price target (up previously from $220.00) on shares of ABIOMED in a report on Thursday, February 1st. Guggenheim reissued a “buy” rating and issued a $280.00 price target on shares of ABIOMED in a report on Friday, February 2nd. Leerink Swann boosted their price target on shares of ABIOMED to $300.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, BTIG Research reaffirmed a “hold” rating on shares of ABIOMED in a report on Sunday, October 29th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. ABIOMED presently has a consensus rating of “Buy” and a consensus price target of $288.86.
Shares of ABIOMED, Inc. (NASDAQ ABMD) opened at $267.74 on Friday. ABIOMED, Inc. has a 1-year low of $110.61 and a 1-year high of $268.72. The stock has a market cap of $11,558.28, a price-to-earnings ratio of 135.96, a PEG ratio of 3.46 and a beta of 0.36.
ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, February 1st. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.20. ABIOMED had a net margin of 16.58% and a return on equity of 15.54%. The business had revenue of $154.00 million during the quarter, compared to analyst estimates of $154.00 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 34.9% compared to the same quarter last year. analysts predict that ABIOMED, Inc. will post 2.39 earnings per share for the current fiscal year.
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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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