ABIOMED, Inc. (NASDAQ:ABMD) Stake Held by Cabot Wealth Management Inc.
Cabot Wealth Management Inc. held its position in ABIOMED, Inc. (NASDAQ:ABMD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,226 shares of the medical equipment provider’s stock at the end of the second quarter. Cabot Wealth Management Inc.’s holdings in ABIOMED were worth $319,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABMD. Huntington National Bank bought a new position in ABIOMED during the second quarter worth $100,000. Creative Planning boosted its position in ABIOMED by 16.4% in the first quarter. Creative Planning now owns 916 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 129 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in ABIOMED during the first quarter worth $200,000. Palladium Partners LLC bought a new position in ABIOMED during the first quarter worth $211,000. Finally, Private Bank & Trust Co. bought a new position in ABIOMED during the second quarter worth $226,000. Hedge funds and other institutional investors own 90.51% of the company’s stock.
Shares of ABIOMED, Inc. (NASDAQ:ABMD) opened at 155.87 on Wednesday. ABIOMED, Inc. has a 52 week low of $95.14 and a 52 week high of $157.41. The company’s 50 day moving average is $144.32 and its 200-day moving average is $129.29. The stock has a market capitalization of $6.84 billion, a PE ratio of 91.15 and a beta of 0.20.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. The business had revenue of $132.47 million for the quarter, compared to the consensus estimate of $130.83 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, equities analysts predict that ABIOMED, Inc. will post $2.24 earnings per share for the current year.
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A number of analysts recently commented on the stock. William Blair restated an “outperform” rating on shares of ABIOMED in a research note on Thursday, June 8th. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “strong-buy” rating and set a $163.00 price target on the stock in a research note on Thursday, July 13th. BidaskClub cut shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Piper Jaffray Companies set a $145.00 price target on shares of ABIOMED in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC restated a “buy” rating and set a $165.00 price target on shares of ABIOMED in a research note on Friday, August 4th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $156.86.
In other ABIOMED news, VP Michael G. Howley sold 18,279 shares of ABIOMED stock in a transaction that occurred on 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 transaction, the vice president now owns 62,105 shares of the company’s stock, valued at $8,294,743.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David M. Weber sold 16,500 shares of ABIOMED stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $147.63, for a total transaction of $2,435,895.00. Following the transaction, the chief operating officer now directly owns 125,122 shares in the company, valued at approximately $18,471,760.86. The disclosure for this sale can be found here. 7.00% of the stock is owned by 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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