California State Teachers Retirement System Purchases 2,331 Shares of ABIOMED, Inc. (ABMD)
California State Teachers Retirement System lifted its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,581 shares of the medical equipment provider’s stock after acquiring an additional 2,331 shares during the quarter. California State Teachers Retirement System’s holdings in ABIOMED were worth $22,617,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new stake in shares of ABIOMED in the fourth quarter valued at about $26,000. Cornerstone Advisors Inc. increased its position in shares of ABIOMED by 304.8% in the fourth quarter. Cornerstone Advisors Inc. now owns 85 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 64 shares during the last quarter. Shine Investment Advisory Services Inc. increased its position in shares of ABIOMED by 319.0% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 88 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of ABIOMED in the fourth quarter valued at about $47,000. Finally, Ipswich Investment Management Co. Inc. acquired a new stake in shares of ABIOMED in the fourth quarter valued at about $76,000. 86.96% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Martin P. Sutter sold 5,000 shares of ABIOMED stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $360.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the director now owns 195,491 shares in the company, valued at $70,376,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin P. Sutter sold 20,000 shares of ABIOMED stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $360.16, for a total value of $7,203,200.00. Following the transaction, the director now owns 195,491 shares of the company’s stock, valued at approximately $70,408,038.56. The disclosure for this sale can be found here. Insiders have sold 74,928 shares of company stock valued at $26,515,812 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, January 31st. The medical equipment provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. ABIOMED had a return on equity of 20.31% and a net margin of 30.12%. The business had revenue of $200.56 million during the quarter, compared to analysts’ expectations of $200.60 million. On average, analysts forecast that ABIOMED, Inc. will post 3.58 EPS for the current fiscal year.
ABMD has been the topic of a number of recent research reports. BTIG Research reaffirmed a “buy” rating and issued a $400.00 target price on shares of ABIOMED in a research report on Tuesday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. ValuEngine raised ABIOMED from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. BidaskClub downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, Morgan Stanley lowered their target price on ABIOMED from $496.00 to $461.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $421.00.
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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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