Cortina Asset Management LLC Lowers Stake in ABIOMED, Inc. (ABMD)
Cortina Asset Management LLC cut its holdings in ABIOMED, Inc. (NASDAQ:ABMD) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 134,497 shares of the medical equipment provider’s stock after selling 3,541 shares during the quarter. ABIOMED makes up 0.9% of Cortina Asset Management LLC’s portfolio, making the stock its 28th largest position. Cortina Asset Management LLC owned 0.30% of ABIOMED worth $22,676,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in ABMD. Huntington National Bank bought a new position in ABIOMED in the second quarter valued at about $100,000. Seven Eight Capital LP bought a new position in ABIOMED in the second quarter valued at about $100,000. Rehmann Capital Advisory Group bought a new position in ABIOMED in the third quarter valued at about $202,000. Sigma Planning Corp bought a new position in ABIOMED in the third quarter valued at about $206,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ABIOMED by 15.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock valued at $217,000 after acquiring an additional 197 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.
ABMD has been the topic of several recent research reports. Jefferies Group LLC raised their price target on ABIOMED from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 4th. BidaskClub upgraded ABIOMED from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. SunTrust Banks, Inc. initiated coverage on ABIOMED in a report on Friday, September 29th. They issued a “buy” rating and a $195.00 price target on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $160.00 price target on shares of ABIOMED in a report on Tuesday, August 29th. Finally, Zacks Investment Research upgraded ABIOMED from a “sell” rating to a “buy” rating and set a $203.00 price target on the stock in a report on Monday, October 30th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $185.38.
In other news, VP Michael G. Howley sold 10,000 shares of ABIOMED stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $178.64, for a total transaction of $1,786,400.00. Following the transaction, the vice president now owns 56,757 shares in the company, valued at approximately $10,139,070.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric A. Md Rose sold 982 shares of ABIOMED stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $145.17, for a total value of $142,556.94. Following the transaction, the director now owns 13,634 shares in the company, valued at approximately $1,979,247.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,646 shares of company stock worth $8,456,680. Company insiders own 7.00% of the company’s stock.
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Shares of ABIOMED, Inc. (NASDAQ ABMD) traded down $0.59 on Monday, reaching $194.32. The company’s stock had a trading volume of 448,700 shares, compared to its average volume of 337,822. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.20 and a current ratio of 5.84. ABIOMED, Inc. has a 12-month low of $103.53 and a 12-month high of $198.29. The company has a market capitalization of $8,590.00, a PE ratio of 124.56, a P/E/G ratio of 2.59 and a beta of 0.23.
ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.16. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The firm had revenue of $132.80 million for the quarter, compared to analysts’ expectations of $131.18 million. During the same quarter last year, the business earned $0.20 earnings per share. The company’s revenue was up 28.9% compared to the same quarter last year. equities analysts expect that ABIOMED, Inc. will post 2.38 earnings per share for the current fiscal year.
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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