Wealth Enhancement Advisory Services LLC decreased its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 4.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,961 shares of the medical equipment provider’s stock after selling 150 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ABIOMED were worth $1,044,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. NEXT Financial Group Inc acquired a new position in shares of ABIOMED during the 3rd quarter valued at about $115,000. TRUE Private Wealth Advisors bought a new stake in ABIOMED during the 3rd quarter valued at approximately $162,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in ABIOMED during the 2nd quarter valued at approximately $164,000. Rampart Investment Management Company LLC bought a new stake in ABIOMED during the 2nd quarter valued at approximately $175,000. Finally, NewSquare Capital LLC bought a new stake in ABIOMED during the 2nd quarter valued at approximately $186,000. 87.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:ABMD opened at $392.91 on Tuesday. ABIOMED, Inc. has a twelve month low of $186.72 and a twelve month high of $459.75. The company has a market cap of $17.24 billion, a P/E ratio of 160.37, a price-to-earnings-growth ratio of 4.07 and a beta of 0.35.
ABIOMED (NASDAQ:ABMD) last announced its earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.36. ABIOMED had a return on equity of 20.09% and a net margin of 27.60%. The firm had revenue of $181.78 million during the quarter, compared to the consensus estimate of $175.41 million. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, equities analysts forecast that ABIOMED, Inc. will post 3.49 earnings per share for the current year.
In other ABIOMED news, VP Michael G. Howley sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $432.50, for a total value of $4,325,000.00. Following the completion of the sale, the vice president now owns 48,954 shares in the company, valued at approximately $21,172,605. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew J. Greenfield sold 4,440 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $395.00, for a total value of $1,753,800.00. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.
Several brokerages recently weighed in on ABMD. BTIG Research upgraded ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Friday. Morgan Stanley increased their target price on ABIOMED from $370.00 to $396.00 and gave the company an “equal weight” rating in a research note on Thursday, October 11th. BidaskClub upgraded ABIOMED from a “hold” rating to a “buy” rating in a research note on Wednesday, September 5th. ValuEngine downgraded ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 18th. Finally, Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. ABIOMED presently has a consensus rating of “Buy” and a consensus target price of $391.67.
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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