Acadian Asset Management LLC cut its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 84.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,840 shares of the medical equipment provider’s stock after selling 46,400 shares during the period. Acadian Asset Management LLC’s holdings in ABIOMED were worth $3,976,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Baillie Gifford & Co. raised its stake in ABIOMED by 3.0% during the second quarter. Baillie Gifford & Co. now owns 2,106,320 shares of the medical equipment provider’s stock worth $861,591,000 after purchasing an additional 61,385 shares during the period. Renaissance Technologies LLC raised its stake in ABIOMED by 35.0% during the second quarter. Renaissance Technologies LLC now owns 1,551,423 shares of the medical equipment provider’s stock worth $634,610,000 after purchasing an additional 401,800 shares during the period. FMR LLC raised its stake in ABIOMED by 34.2% during the second quarter. FMR LLC now owns 691,818 shares of the medical equipment provider’s stock worth $282,988,000 after purchasing an additional 176,394 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd raised its stake in ABIOMED by 1,030.0% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 638,856 shares of the medical equipment provider’s stock worth $287,325,000 after purchasing an additional 582,318 shares during the period. Finally, Northern Trust Corp raised its stake in ABIOMED by 32.2% during the second quarter. Northern Trust Corp now owns 442,770 shares of the medical equipment provider’s stock worth $181,115,000 after purchasing an additional 107,864 shares during the period. 87.14% of the stock is currently owned by institutional investors.
In related news, VP Andrew J. Greenfield sold 4,440 shares of the company’s stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael G. Howley sold 10,000 shares of the company’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 transaction of $4,325,000.00. Following the sale, the vice president now directly owns 48,954 shares in the company, valued at $21,172,605. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.
A number of equities analysts have commented on ABMD shares. BidaskClub downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Zacks Investment Research downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. ValuEngine downgraded shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 18th. Morgan Stanley boosted their price target on shares of ABIOMED from $370.00 to $396.00 and gave the company an “equal weight” rating in a research note on Thursday, October 11th. Finally, BTIG Research raised shares of ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Friday, November 2nd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $402.78.
ABIOMED stock opened at $413.85 on Friday. The company has a market capitalization of $17.50 billion, a PE ratio of 168.92, a P/E/G ratio of 3.18 and a beta of 0.35. ABIOMED, Inc. has a 1 year low of $186.72 and a 1 year high of $459.75.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.36. The business had revenue of $181.78 million for the quarter, compared to the consensus estimate of $175.41 million. ABIOMED had a net margin of 27.60% and a return on equity of 20.09%. The business’s revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. As a group, sell-side analysts anticipate that ABIOMED, Inc. will post 3.57 earnings per share for the current fiscal year.
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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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