Balentine LLC Invests $253,000 in ABIOMED, Inc. (ABMD)
Balentine LLC bought a new stake in ABIOMED, Inc. (NASDAQ:ABMD) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,500 shares of the medical equipment provider’s stock, valued at approximately $253,000.
Several other institutional investors and hedge funds have also modified their holdings of ABMD. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of ABIOMED by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,947 shares of the medical equipment provider’s stock valued at $852,000 after buying an additional 32 shares in the last quarter. BB&T Securities LLC grew its stake in shares of ABIOMED by 1.0% in the 2nd quarter. BB&T Securities LLC now owns 4,154 shares of the medical equipment provider’s stock valued at $595,000 after buying an additional 43 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of ABIOMED by 1.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,294 shares of the medical equipment provider’s stock valued at $472,000 after buying an additional 51 shares in the last quarter. Utah Retirement Systems grew its stake in shares of ABIOMED by 1.4% in the 2nd quarter. Utah Retirement Systems now owns 7,400 shares of the medical equipment provider’s stock valued at $1,060,000 after buying an additional 100 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ABIOMED by 15.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock valued at $217,000 after buying an additional 197 shares in the last quarter. Institutional investors own 90.75% of the company’s stock.
In other news, Director Dorothy E. Puhy sold 6,364 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $179.08, for a total value of $1,139,665.12. Following the completion of the sale, the director now directly owns 39,532 shares of the company’s stock, valued at $7,079,390.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew J. Greenfield sold 11,282 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $169.32, for a total value of $1,910,268.24. The disclosure for this sale can be found here. Insiders have sold 27,646 shares of company stock valued at $4,836,333 in the last ninety days. Company insiders own 7.00% of the company’s stock.
Shares of ABIOMED, Inc. (ABMD) opened at $191.36 on Monday. The stock has a market capitalization of $8,461.17, a P/E ratio of 122.67, a price-to-earnings-growth ratio of 2.55 and a beta of 0.15. The company has a current ratio of 5.84, a quick ratio of 5.20 and a debt-to-equity ratio of 0.02. ABIOMED, Inc. has a 12-month low of $103.53 and a 12-month high of $200.28.
ABIOMED (NASDAQ:ABMD) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.16. The firm had revenue of $132.80 million during the quarter, compared to analysts’ expectations of $131.18 million. ABIOMED had a return on equity of 13.89% and a net margin of 18.27%. The company’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. equities analysts forecast that ABIOMED, Inc. will post 2.38 EPS for the current fiscal year.
Several brokerages recently commented on ABMD. Zacks Investment Research raised ABIOMED from a “hold” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Tuesday, November 7th. Jefferies Group boosted their price target on ABIOMED from $175.00 to $208.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Piper Jaffray Companies reissued a “buy” rating and issued a $160.00 price target on shares of ABIOMED in a research note on Tuesday, August 29th. BTIG Research reissued a “hold” rating on shares of ABIOMED in a research note on Sunday, October 29th. Finally, SunTrust Banks reissued a “buy” rating and issued a $195.00 price target on shares of ABIOMED in a research note on Wednesday, November 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. ABIOMED presently has an average rating of “Buy” and an average price target of $190.43.
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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