ABIOMED, Inc. (ABMD) is Palo Alto Investors LLC’s 3rd Largest Position
Palo Alto Investors LLC increased its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 0.9% during the first quarter, Holdings Channel reports. The firm owned 1,921,484 shares of the medical equipment provider’s stock after buying an additional 17,900 shares during the period. ABIOMED comprises approximately 11.4% of Palo Alto Investors LLC’s portfolio, making the stock its 3rd largest position. Palo Alto Investors LLC’s holdings in ABIOMED were worth $240,570,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of ABIOMED by 10,945.5% in the first quarter. BlackRock Inc. now owns 3,270,245 shares of the medical equipment provider’s stock worth $409,433,000 after buying an additional 3,240,638 shares during the period. Baillie Gifford & Co. boosted its stake in shares of ABIOMED by 184.3% in the first quarter. Baillie Gifford & Co. now owns 1,672,435 shares of the medical equipment provider’s stock worth $209,389,000 after buying an additional 1,084,264 shares during the period. Norges Bank bought a new stake in shares of ABIOMED during the fourth quarter worth approximately $53,701,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of ABIOMED during the fourth quarter worth approximately $35,448,000. Finally, Brown Capital Management LLC boosted its stake in shares of ABIOMED by 30.5% in the first quarter. Brown Capital Management LLC now owns 915,700 shares of the medical equipment provider’s stock worth $114,646,000 after buying an additional 213,889 shares during the period. Hedge funds and other institutional investors own 91.34% of the company’s stock.
ABIOMED, Inc. (ABMD) traded down 1.01% during midday trading on Tuesday, hitting $144.46. The stock had a trading volume of 245,271 shares. ABIOMED, Inc. has a one year low of $95.14 and a one year high of $147.45. The stock has a market cap of $6.30 billion, a PE ratio of 123.47 and a beta of 0.25. The firm has a 50 day moving average price of $136.82 and a 200 day moving average price of $122.51.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings data on Thursday, May 4th. The medical equipment provider reported $0.33 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.33. The business had revenue of $124.68 million during the quarter, compared to analyst estimates of $122.82 million. ABIOMED had a net margin of 11.70% and a return on equity of 12.67%. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. Equities analysts expect that ABIOMED, Inc. will post $1.84 EPS for the current year.
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ABMD has been the topic of a number of analyst reports. Piper Jaffray Companies upgraded ABIOMED from a “neutral” rating to an “overweight” rating and set a $145.00 target price on the stock in a report on Thursday, April 6th. Leerink Swann increased their target price on ABIOMED from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, March 30th. TheStreet upgraded ABIOMED from a “c+” rating to a “b-” rating in a report on Tuesday, February 21st. Finally, William Blair reiterated an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $151.00.
In related news, COO David M. Weber sold 21,250 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $130.89, for a total value of $2,781,412.50. Following the sale, the chief operating officer now owns 123,771 shares of the company’s stock, valued at $16,200,386.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael G. Howley sold 18,279 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $133.56, for a total transaction of $2,441,343.24. Following the completion of the sale, the vice president now directly owns 62,105 shares in the company, valued at approximately $8,294,743.80. The disclosure for this sale can be found here. Insiders have sold 53,629 shares of company stock valued at $7,072,580 in the last ninety days. 10.00% of the stock is 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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