Fred Alger Management Inc. Buys 57,979 Shares of ABIOMED, Inc. (ABMD)
Fred Alger Management Inc. increased its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 29.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,788 shares of the company’s stock after buying an additional 57,979 shares during the period. Fred Alger Management Inc. owned approximately 0.58% of ABIOMED worth $28,371,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Creative Planning raised its position in shares of ABIOMED by 53.3% in the third quarter. Creative Planning now owns 984 shares of the company’s stock worth $127,000 after buying an additional 342 shares during the period. Cypress Capital Management LLC WY raised its position in shares of ABIOMED by 10.3% in the third quarter. Cypress Capital Management LLC WY now owns 1,070 shares of the company’s stock worth $138,000 after buying an additional 100 shares during the period. Private Bank & Trust Co. acquired a new position in shares of ABIOMED during the third quarter worth about $203,000. Gilder Gagnon Howe & Co. LLC raised its position in shares of ABIOMED by 3.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,969 shares of the company’s stock worth $215,000 after buying an additional 67 shares during the period. Finally, Palladium Partners LLC acquired a new position in shares of ABIOMED during the third quarter worth about $217,000. 92.67% of the stock is owned by institutional investors.
Shares of ABIOMED, Inc. (NASDAQ:ABMD) traded up 3.28% during trading on Thursday, reaching $114.25. The company had a trading volume of 725,334 shares. ABIOMED, Inc. has a 12-month low of $78.46 and a 12-month high of $132.95. The firm has a 50-day moving average of $110.97 and a 200-day moving average of $116.57. The company has a market cap of $4.96 billion, a P/E ratio of 106.88 and a beta of 0.51.
ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, January 26th. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. ABIOMED had a net margin of 11.63% and a return on equity of 12.35%. The business earned $114.70 million during the quarter, compared to analysts’ expectations of $112.71 million. During the same quarter last year, the company earned $0.23 earnings per share. The firm’s revenue was up 33.1% on a year-over-year basis. On average, equities research analysts anticipate that ABIOMED, Inc. will post $1.18 EPS for the current year.
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A number of brokerages recently issued reports on ABMD. Zacks Investment Research raised ABIOMED from a “sell” rating to a “hold” rating in a report on Monday, January 30th. BTIG Research reissued a “buy” rating and issued a $170.00 price objective on shares of ABIOMED in a report on Sunday, January 8th. TheStreet lowered ABIOMED from a “buy” rating to a “hold” rating in a report on Thursday, October 27th. Finally, Guggenheim began coverage on ABIOMED in a report on Tuesday, December 6th. They issued a “buy” rating and a $150.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. ABIOMED currently has an average rating of “Buy” and an average price target of $146.83.
In related news, Director Dorothy E. Puhy sold 8,000 shares of the stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $120.00, for a total value of $960,000.00. Following the completion of the sale, the director now owns 32,749 shares in the company, valued at $3,929,880. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.00% of the stock is currently owned by company insiders.
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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