Essex Financial Services Inc. acquired a new position in shares of ABIOMED, Inc. (NASDAQ:ABMD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 500 shares of the medical equipment provider’s stock, valued at approximately $225,000.
A number of other institutional investors have also recently added to or reduced their stakes in ABMD. NEXT Financial Group Inc acquired a new stake in ABIOMED during the third quarter worth about $115,000. TRUE Private Wealth Advisors acquired a new stake in ABIOMED during the third quarter worth about $162,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in ABIOMED during the second quarter worth about $164,000. Rampart Investment Management Company LLC acquired a new stake in ABIOMED during the second quarter worth about $175,000. Finally, NewSquare Capital LLC acquired a new stake in ABIOMED during the second quarter worth about $186,000. Hedge funds and other institutional investors own 87.14% of the company’s stock.
In other ABIOMED news, VP Andrew J. Greenfield sold 4,440 shares of ABIOMED stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $395.00, for a total transaction of $1,753,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael G. Howley sold 10,000 shares of ABIOMED stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $432.50, for a total transaction of $4,325,000.00. Following the sale, the vice president now owns 48,954 shares of the company’s stock, valued at $21,172,605. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.
Several equities research analysts recently issued reports on ABMD shares. BidaskClub cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Zacks Investment Research cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. ValuEngine cut shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. Morgan Stanley raised their price objective on shares of ABIOMED from $370.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 11th. Finally, BTIG Research upgraded shares of ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Friday, November 2nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. ABIOMED currently has an average rating of “Buy” and a consensus target price of $402.78.
Shares of ABMD opened at $413.85 on Friday. ABIOMED, Inc. has a 1-year low of $186.72 and a 1-year high of $459.75. The stock has a market cap of $17.50 billion, a price-to-earnings ratio of 126.17, a P/E/G ratio of 3.18 and a beta of 0.35.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.36. ABIOMED had a net margin of 27.60% and a return on equity of 20.09%. The business had revenue of $181.78 million during the quarter, compared to analysts’ expectations of $175.41 million. During the same period last year, the business earned $0.54 earnings per share. The business’s revenue for the quarter was up 36.9% on a year-over-year basis. Equities research analysts anticipate that ABIOMED, Inc. will post 3.57 EPS for the current year.
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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