Telemus Capital LLC cut its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 71.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,000 shares of the medical equipment provider’s stock after selling 5,000 shares during the period. Telemus Capital LLC’s holdings in ABIOMED were worth $287,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Texas Permanent School Fund boosted its stake in ABIOMED by 1.5% in the second quarter. Texas Permanent School Fund now owns 29,753 shares of the medical equipment provider’s stock worth $4,264,000 after buying an additional 437 shares during the period. World Asset Management Inc boosted its stake in ABIOMED by 4.3% in the second quarter. World Asset Management Inc now owns 2,966 shares of the medical equipment provider’s stock worth $425,000 after buying an additional 122 shares during the period. Lebenthal Lisanti Capital Growth LLC acquired a new stake in ABIOMED during the second quarter worth approximately $390,000. Great West Life Assurance Co. Can boosted its stake in ABIOMED by 4.4% in the second quarter. Great West Life Assurance Co. Can now owns 25,014 shares of the medical equipment provider’s stock worth $3,581,000 after buying an additional 1,063 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in ABIOMED during the second quarter worth approximately $284,000. Institutional investors own 90.51% of the company’s stock.

ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The business had revenue of $132.47 million during the quarter, compared to the consensus estimate of $130.83 million. During the same period in the previous year, the business earned $0.29 EPS. The business’s quarterly revenue was up 28.6% on a year-over-year basis.

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A number of equities research analysts have commented on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $165.00 price target on shares of ABIOMED in a research note on Friday. Piper Jaffray Companies reiterated an “overweight” rating and issued a $160.00 price target (up from $145.00) on shares of ABIOMED in a research note on Thursday, July 27th. BidaskClub cut ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded ABIOMED from a “hold” rating to a “strong-buy” rating and set a $163.00 price target for the company in a research note on Thursday, July 13th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 price target (up from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $156.86.

In other news, VP Michael G. Howley sold 18,279 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $133.56, for a total value of $2,441,343.24. Following the completion of the sale, the vice president now directly owns 62,105 shares of the company’s stock, valued at approximately $8,294,743.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David M. Weber sold 16,500 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $147.63, for a total value of $2,435,895.00. Following the completion of the sale, the chief operating officer now directly owns 125,122 shares of the company’s stock, valued at $18,471,760.86. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by 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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Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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