Taylor Cottrill Erickson & Associates Inc. Sells 370 Shares of ABIOMED, Inc. (NASDAQ:ABMD)

Taylor Cottrill Erickson & Associates Inc. lessened its position in ABIOMED, Inc. (NASDAQ:ABMD) by 9.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,755 shares of the medical equipment provider’s stock after selling 370 shares during the quarter. Taylor Cottrill Erickson & Associates Inc.’s holdings in ABIOMED were worth $978,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Piedmont Investment Advisors Inc. increased its stake in ABIOMED by 1.4% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 3,805 shares of the medical equipment provider’s stock worth $1,087,000 after buying an additional 51 shares during the period. World Asset Management Inc increased its position in ABIOMED by 2.0% during the 2nd quarter. World Asset Management Inc now owns 2,922 shares of the medical equipment provider’s stock valued at $761,000 after purchasing an additional 56 shares during the period. Chartwell Investment Partners LLC increased its position in ABIOMED by 5.0% during the 1st quarter. Chartwell Investment Partners LLC now owns 1,324 shares of the medical equipment provider’s stock valued at $378,000 after purchasing an additional 63 shares during the period. Nordea Investment Management AB increased its position in ABIOMED by 3.6% during the 4th quarter. Nordea Investment Management AB now owns 1,984 shares of the medical equipment provider’s stock valued at $646,000 after purchasing an additional 69 shares during the period. Finally, Sterling Investment Advisors Ltd. increased its position in ABIOMED by 233.3% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 100 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 87.90% of the company’s stock.

Shares of ABIOMED stock traded down $10.31 on Wednesday, reaching $190.17. The stock had a trading volume of 702,985 shares, compared to its average volume of 623,944. The firm’s 50 day moving average price is $254.95. ABIOMED, Inc. has a 1 year low of $197.01 and a 1 year high of $459.75. The stock has a market cap of $8.74 billion, a PE ratio of 52.83, a P/E/G ratio of 1.62 and a beta of 0.31.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01. ABIOMED had a net margin of 32.35% and a return on equity of 19.84%. The firm had revenue of $207.70 million for the quarter, compared to the consensus estimate of $210.96 million. During the same quarter in the previous year, the firm earned $1.95 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, sell-side analysts predict that ABIOMED, Inc. will post 4.34 EPS for the current year.

A number of research analysts have commented on the stock. William Blair reissued a “buy” rating on shares of ABIOMED in a research report on Friday, August 2nd. Zacks Investment Research downgraded shares of ABIOMED from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. BidaskClub raised shares of ABIOMED from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 24th. Guggenheim downgraded shares of ABIOMED from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Finally, ValuEngine downgraded shares of ABIOMED from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $316.50.

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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