LMR Partners LLP Acquires New Stake in Abiomed Inc. (ABMD)
LMR Partners LLP bought a new position in Abiomed Inc. (NASDAQ:ABMD) during the second quarter, Holdings Channel reports. The institutional investor bought 28,996 shares of the company’s stock, valued at approximately $3,169,000.
Several other hedge funds also recently modified their holdings of the company. State Street Corp increased its stake in shares of Abiomed by 56.3% in the first quarter. State Street Corp now owns 1,316,168 shares of the company’s stock worth $124,787,000 after buying an additional 474,209 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Abiomed by 17.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,137,738 shares of the company’s stock worth $107,869,000 after buying an additional 167,040 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Abiomed during the first quarter worth approximately $121,655,000. Norges Bank bought a new stake in shares of Abiomed during the fourth quarter worth approximately $46,385,000. Finally, Granahan Investment Management Inc. MA increased its stake in shares of Abiomed by 11.6% in the first quarter. Granahan Investment Management Inc. MA now owns 322,383 shares of the company’s stock worth $30,565,000 after buying an additional 33,400 shares during the last quarter. Hedge funds and other institutional investors own 93.65% of the company’s stock.
Shares of Abiomed Inc. (NASDAQ:ABMD) traded up 0.06% during trading on Wednesday, hitting $127.45. The company’s stock had a trading volume of 406,572 shares. The company has a 50-day moving average price of $122.19 and a 200-day moving average price of $108.88. Abiomed Inc. has a one year low of $67.81 and a one year high of $131.16. The stock has a market cap of $5.46 billion, a PE ratio of 135.59 and a beta of 0.75.
Abiomed (NASDAQ:ABMD) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.06. Abiomed had a return on equity of 11.86% and a net margin of 11.75%. The company had revenue of $103 million for the quarter, compared to analyst estimates of $97.23 million. During the same quarter in the previous year, the company earned $0.20 EPS. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. Equities analysts predict that Abiomed Inc. will post $1.17 EPS for the current fiscal year.
A number of analysts have recently commented on ABMD shares. Zacks Investment Research downgraded Abiomed from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Jefferies Group increased their price target on Abiomed from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Finally, Leerink Swann reiterated an “outperform” rating and set a $125.00 price target on shares of Abiomed in a research report on Wednesday, September 28th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $116.59.
In other Abiomed news, VP Michael G. Howley sold 17,853 shares of Abiomed stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $119.20, for a total value of $2,128,077.60. Following the sale, the vice president now owns 65,558 shares of the company’s stock, valued at approximately $7,814,513.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dorothy E. Puhy sold 3,900 shares of Abiomed stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $122.31, for a total value of $477,009.00. Following the completion of the sale, the director now directly owns 33,811 shares in the company, valued at approximately $4,135,423.41. The disclosure for this sale can be found here. 10.00% of the stock is owned by company insiders.
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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