ABIOMED, Inc. (ABMD) Position Increased by Amalgamated Bank
Amalgamated Bank boosted its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 28.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,217 shares of the medical equipment provider’s stock after acquiring an additional 1,823 shares during the period. Amalgamated Bank’s holdings in ABIOMED were worth $1,177,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of ABMD. World Asset Management Inc raised its holdings in ABIOMED by 17.0% in the first quarter. World Asset Management Inc now owns 2,844 shares of the medical equipment provider’s stock valued at $356,000 after acquiring an additional 413 shares in the last quarter. Karp Capital Management Corp acquired a new stake in ABIOMED in the first quarter valued at $1,546,000. Ameriprise Financial Inc. raised its holdings in ABIOMED by 2.3% in the first quarter. Ameriprise Financial Inc. now owns 159,567 shares of the medical equipment provider’s stock valued at $19,979,000 after acquiring an additional 3,616 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in ABIOMED by 4.3% in the first quarter. Parametric Portfolio Associates LLC now owns 43,001 shares of the medical equipment provider’s stock valued at $5,384,000 after acquiring an additional 1,789 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in ABIOMED in the first quarter valued at $200,000. 89.69% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Eric A. Md Rose sold 982 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $145.17, for a total value of $142,556.94. Following the completion of the transaction, the director now directly owns 13,634 shares of the company’s stock, valued at $1,979,247.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO David M. Weber sold 16,500 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $147.63, for a total value of $2,435,895.00. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 50,500 shares of company stock valued at $7,603,342. 7.00% of the stock is owned by company insiders.
Shares of ABIOMED, Inc. (NASDAQ:ABMD) opened at 163.96 on Monday. ABIOMED, Inc. has a 1-year low of $95.14 and a 1-year high of $164.60. The firm’s 50-day moving average is $152.81 and its 200 day moving average is $138.79. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 95.88 and a beta of 0.22.
ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $132.47 million during the quarter, compared to analysts’ expectations of $130.83 million. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. ABIOMED’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period last year, the business earned $0.29 earnings per share. Equities analysts expect that ABIOMED, Inc. will post $2.24 EPS for the current fiscal year.
Several research firms recently issued reports on ABMD. BidaskClub raised shares of ABIOMED from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. William Blair reiterated an “outperform” rating on shares of ABIOMED in a research note on Thursday, June 8th. Jefferies Group LLC boosted their target price on shares of ABIOMED from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Piper Jaffray Companies reiterated an “overweight” rating and set a $160.00 target price (up previously from $145.00) on shares of ABIOMED in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $158.29.
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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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