California Public Employees Retirement System boosted its position in ABIOMED, Inc. (NASDAQ:ABMD) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,818 shares of the medical equipment provider’s stock after purchasing an additional 597 shares during the quarter. California Public Employees Retirement System’s holdings in ABIOMED were worth $20,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sontag Advisory LLC purchased a new stake in ABIOMED in the 4th quarter worth approximately $25,000. We Are One Seven LLC purchased a new stake in ABIOMED in the 4th quarter worth approximately $26,000. Shine Investment Advisory Services Inc. lifted its stake in ABIOMED by 319.0% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 88 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Sterling Investment Advisors Ltd. lifted its stake in ABIOMED by 233.3% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 100 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 70 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in ABIOMED by 1,187.5% in the 4th quarter. Captrust Financial Advisors now owns 103 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 87.85% of the company’s stock.
In other ABIOMED news, Director Martin P. Sutter sold 4,664 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $259.97, for a total transaction of $1,212,500.08. Following the sale, the director now owns 192,550 shares in the company, valued at $50,057,223.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.50% of the company’s stock.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.53. ABIOMED had a return on equity of 20.32% and a net margin of 33.66%. The business had revenue of $207.08 million for the quarter, compared to the consensus estimate of $218.88 million. During the same quarter last year, the business posted $0.80 earnings per share. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, equities research analysts forecast that ABIOMED, Inc. will post 4.57 EPS for the current fiscal year.
ABMD has been the topic of several research reports. ValuEngine upgraded shares of ABIOMED from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. BidaskClub downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Zacks Investment Research lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, BTIG Research restated a “buy” rating and set a $400.00 price target on shares of ABIOMED in a research report on Tuesday, January 22nd. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. ABIOMED presently has an average rating of “Hold” and an average price target of $408.67.
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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