Glen Harbor Capital Management LLC grew its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 14.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,696 shares of the medical equipment provider’s stock after purchasing an additional 1,462 shares during the quarter. Glen Harbor Capital Management LLC’s holdings in ABIOMED were worth $4,784,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Rampart Investment Management Company LLC purchased a new stake in ABIOMED during the 2nd quarter valued at about $175,000. Baird Financial Group Inc. boosted its holdings in ABIOMED by 66.3% during the 2nd quarter. Baird Financial Group Inc. now owns 11,477 shares of the medical equipment provider’s stock valued at $4,695,000 after acquiring an additional 4,574 shares during the period. Oregon Public Employees Retirement Fund purchased a new stake in ABIOMED during the 2nd quarter valued at about $4,433,000. Renaissance Technologies LLC boosted its holdings in ABIOMED by 35.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,551,423 shares of the medical equipment provider’s stock valued at $634,610,000 after acquiring an additional 401,800 shares during the period. Finally, BlueMountain Capital Management LLC purchased a new stake in ABIOMED during the 2nd quarter valued at about $4,022,000. Hedge funds and other institutional investors own 86.46% of the company’s stock.

In other news, COO David M. Weber sold 19,282 shares of the stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $356.77, for a total value of $6,879,239.14. Following the completion of the transaction, the chief operating officer now owns 167,124 shares of the company’s stock, valued at approximately $59,624,829.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael R. Minogue sold 105,000 shares of the stock in a transaction that occurred on Thursday, June 21st. The stock was sold at an average price of $439.69, for a total value of $46,167,450.00. Following the completion of the transaction, the chairman now directly owns 481,150 shares of the company’s stock, valued at approximately $211,556,843.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,222 shares of company stock valued at $75,382,784. Company insiders own 3.50% of the company’s stock.

ABMD has been the subject of several analyst reports. BidaskClub cut ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Jefferies Financial Group increased their target price on ABIOMED to $460.00 and gave the company a “buy” rating in a report on Tuesday, May 29th. ValuEngine cut ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 18th. Zacks Investment Research upgraded ABIOMED from a “hold” rating to a “buy” rating and set a $457.00 target price for the company in a report on Tuesday, July 10th. Finally, Piper Jaffray Companies increased their target price on ABIOMED from $360.00 to $480.00 and gave the company an “overweight” rating in a report on Friday, June 22nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $374.88.

NASDAQ ABMD opened at $377.49 on Friday. ABIOMED, Inc. has a fifty-two week low of $153.64 and a fifty-two week high of $450.93. The company has a market capitalization of $17.19 billion, a price-to-earnings ratio of 154.08, a price-to-earnings-growth ratio of 4.10 and a beta of -0.07.

ABIOMED (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, July 26th. The medical equipment provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $1.15. ABIOMED had a return on equity of 18.91% and a net margin of 25.71%. The business had revenue of $180.01 million during the quarter, compared to analysts’ expectations of $173.87 million. During the same quarter last year, the business posted $0.82 EPS. The business’s revenue was up 35.9% on a year-over-year basis. sell-side analysts forecast that ABIOMED, Inc. will post 3.46 earnings per share for the current year.

ABIOMED Company Profile

ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.

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Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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