Altman Advisors Inc. Purchases 2,095 Shares of ABIOMED, Inc. (NASDAQ:ABMD)

Altman Advisors Inc. boosted its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 265.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,884 shares of the medical equipment provider’s stock after buying an additional 2,095 shares during the quarter. Altman Advisors Inc.’s holdings in ABIOMED were worth $824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ABMD. Marathon Capital Management boosted its position in shares of ABIOMED by 4.0% in the 4th quarter. Marathon Capital Management now owns 780 shares of the medical equipment provider’s stock valued at $253,000 after purchasing an additional 30 shares during the period. Kornitzer Capital Management Inc. KS lifted its stake in ABIOMED by 0.5% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,930 shares of the medical equipment provider’s stock worth $2,253,000 after acquiring an additional 35 shares in the last quarter. Bbva Compass Bancshares Inc. lifted its stake in ABIOMED by 3.7% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 1,417 shares of the medical equipment provider’s stock worth $461,000 after acquiring an additional 50 shares in the last quarter. Equitable Trust Co. lifted its stake in ABIOMED by 2.1% in the 4th quarter. Equitable Trust Co. now owns 2,450 shares of the medical equipment provider’s stock worth $796,000 after acquiring an additional 50 shares in the last quarter. Finally, Chartwell Investment Partners LLC lifted its stake in ABIOMED by 5.0% in the 1st quarter. Chartwell Investment Partners LLC now owns 1,324 shares of the medical equipment provider’s stock worth $378,000 after acquiring an additional 63 shares in the last quarter. 88.01% of the stock is owned by institutional investors and hedge funds.

ABMD opened at $271.75 on Friday. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 74.86, a price-to-earnings-growth ratio of 2.00 and a beta of 0.29. ABIOMED, Inc. has a 12-month low of $228.00 and a 12-month high of $459.75.

ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.53. ABIOMED had a return on equity of 21.27% and a net margin of 33.66%. The firm had revenue of $207.08 million for the quarter, compared to analyst estimates of $218.88 million. During the same quarter last year, the firm posted $0.80 EPS. The company’s revenue was up 18.7% on a year-over-year basis. Equities research analysts forecast that ABIOMED, Inc. will post 4.78 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on ABMD shares. BidaskClub downgraded ABIOMED from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. ValuEngine downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Finally, BTIG Research reissued a “buy” rating and issued a $400.00 price objective on shares of ABIOMED in a research note on Tuesday, January 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $408.67.

In other news, Director Martin P. Sutter sold 5,000 shares of ABIOMED stock in a transaction that occurred on 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 sale, the director now owns 195,491 shares of the company’s stock, valued at approximately $70,376,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin P. Sutter sold 5,985 shares of ABIOMED stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $349.49, for a total value of $2,091,697.65. Following the sale, the director now directly owns 212,943 shares in the company, valued at approximately $74,421,449.07. The disclosure for this sale can be found here. Insiders have sold a total of 50,928 shares of company stock worth $18,080,532 in the last three months. 3.50% of the stock is owned by insiders.

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About ABIOMED

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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