Bank of Montreal Can Invests $8,459,000 in Abiomed Inc. (ABMD)
Bank of Montreal Can acquired a new position in shares of Abiomed Inc. (NASDAQ:ABMD) during the second quarter, Holdings Channel reports. The firm acquired 77,395 shares of the company’s stock, valued at approximately $8,459,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of Abiomed by 94.3% in the first quarter. Bessemer Group Inc. now owns 1,226 shares of the company’s stock worth $116,000 after buying an additional 595 shares during the last quarter. Affinity Wealth Management purchased a new position in shares of Abiomed during the first quarter worth $200,000. LS Investment Advisors LLC raised its position in shares of Abiomed by 68.4% in the second quarter. LS Investment Advisors LLC now owns 2,615 shares of the company’s stock worth $286,000 after buying an additional 1,062 shares during the last quarter. Miles Capital Inc. purchased a new position in shares of Abiomed during the first quarter worth $253,000. Finally, Virginia Retirement System purchased a new position in shares of Abiomed during the first quarter worth $303,000. Institutional investors own 93.65% of the company’s stock.
Shares of Abiomed Inc. (NASDAQ:ABMD) traded down 0.02% during mid-day trading on Friday, hitting $128.47. The company had a trading volume of 352,183 shares. The company has a market cap of $5.50 billion, a PE ratio of 136.67 and a beta of 0.75. Abiomed Inc. has a 12 month low of $67.81 and a 12 month high of $131.16. The firm has a 50-day moving average of $122.72 and a 200-day moving average of $109.43.
Abiomed (NASDAQ:ABMD) last posted its earnings results on Thursday, July 28th. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.06. The company had revenue of $103 million for the quarter, compared to the consensus estimate of $97.23 million. Abiomed had a return on equity of 11.86% and a net margin of 11.75%. Abiomed’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. On average, analysts expect that Abiomed Inc. will post $1.17 EPS for the current year.
A number of brokerages have issued reports on ABMD. Jefferies Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of Abiomed in a research note on Friday, June 10th. Zacks Investment Research raised Abiomed from a “hold” rating to a “strong-buy” rating and set a $146.00 target price for the company in a research note on Wednesday. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Abiomed in a research note on Wednesday, September 28th. Two equities research 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’s stock. Abiomed presently has a consensus rating of “Buy” and an average target price of $116.59.
In other Abiomed news, CEO Michael R. Minogue sold 28,039 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $127.07, for a total transaction of $3,562,915.73. Following the sale, the chief executive officer now directly owns 215,488 shares in the company, valued at $27,382,060.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael R. Minogue sold 5,034 shares of the business’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $127.07, for a total value of $639,670.38. Following the sale, the chief executive officer now owns 215,782 shares in the company, valued at $27,419,418.74. The disclosure for this sale can be found here. Company insiders own 10.00% of the company’s stock.
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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