Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 275.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,059 shares of the medical equipment provider’s stock after purchasing an additional 6,644 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ABIOMED were worth $3,706,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABMD. Global X Management Co. LLC raised its position in shares of ABIOMED by 669.9% during the first quarter. Global X Management Co. LLC now owns 3,480 shares of the medical equipment provider’s stock valued at $1,013,000 after buying an additional 3,028 shares during the last quarter. FDx Advisors Inc. bought a new stake in shares of ABIOMED during the first quarter valued at approximately $293,000. Biondo Investment Advisors LLC raised its position in shares of ABIOMED by 4.4% during the first quarter. Biondo Investment Advisors LLC now owns 72,899 shares of the medical equipment provider’s stock valued at $21,213,000 after buying an additional 3,105 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of ABIOMED during the first quarter valued at approximately $161,000. Finally, Comerica Bank raised its position in shares of ABIOMED by 0.7% during the first quarter. Comerica Bank now owns 33,367 shares of the medical equipment provider’s stock valued at $10,225,000 after buying an additional 223 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors.
In related news, Chairman Michael R. Minogue sold 105,000 shares of the firm’s stock in a transaction on Thursday, June 21st. The shares were 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 $211,556,843.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO David M. Weber sold 46,500 shares of the firm’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $442.63, for a total transaction of $20,582,295.00. Following the completion of the transaction, the chief operating officer now directly owns 189,657 shares of the company’s stock, valued at $83,947,877.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,782 shares of company stock valued at $73,628,984. 3.50% of the stock is currently owned by insiders.
ABMD stock opened at $358.82 on Friday. ABIOMED, Inc. has a fifty-two week low of $144.01 and a fifty-two week high of $450.93. The firm has a market capitalization of $16.96 billion, a P/E ratio of 146.46, a price-to-earnings-growth ratio of 4.06 and a beta of -0.02.
ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, July 26th. The medical equipment provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $1.15. ABIOMED had a net margin of 25.71% and a return on equity of 18.91%. The firm had revenue of $180.01 million during the quarter, compared to analyst estimates of $173.87 million. During the same period last year, the firm posted $0.82 earnings per share. ABIOMED’s revenue for the quarter was up 35.9% compared to the same quarter last year. research analysts predict that ABIOMED, Inc. will post 3.45 EPS for the current year.
Several research firms have recently issued reports on ABMD. BidaskClub cut shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “buy” rating and set a $457.00 price objective on the stock in a research report on Tuesday, July 10th. Morgan Stanley lifted their price objective on shares of ABIOMED from $259.00 to $320.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 1st. ValuEngine upgraded shares of ABIOMED from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 3rd. Finally, Piper Jaffray Companies lifted their price objective on shares of ABIOMED to $360.00 and gave the company an “overweight” rating in a research report on Thursday, May 3rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. ABIOMED has a consensus rating of “Buy” and a consensus price target of $374.88.
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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