American Century Companies Inc. cut its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 18.1% in the third quarter, Holdings Channel reports. The fund owned 329,209 shares of the medical equipment provider’s stock after selling 72,514 shares during the period. American Century Companies Inc.’s holdings in ABIOMED were worth $148,062,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of ABIOMED by 65.0% in the 2nd quarter. Wells Fargo & Company MN now owns 134,542 shares of the medical equipment provider’s stock worth $55,034,000 after acquiring an additional 52,986 shares during the last quarter. Beech Hill Advisors Inc. grew its holdings in shares of ABIOMED by 100.0% during the 3rd quarter. Beech Hill Advisors Inc. now owns 1,000 shares of the medical equipment provider’s stock worth $450,000 after purchasing an additional 500 shares during the period. Private Advisor Group LLC purchased a new position in shares of ABIOMED during the 2nd quarter worth $1,515,000. State of Alaska Department of Revenue grew its holdings in shares of ABIOMED by 4.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,184 shares of the medical equipment provider’s stock worth $3,230,000 after purchasing an additional 304 shares during the period. Finally, Columbus Circle Investors grew its holdings in shares of ABIOMED by 179.7% during the 2nd quarter. Columbus Circle Investors now owns 64,442 shares of the medical equipment provider’s stock worth $26,360,000 after purchasing an additional 41,403 shares during the period. 87.14% of the stock is owned by institutional investors and hedge funds.
In related news, VP Michael G. Howley sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 48,954 shares in the company, valued at approximately $21,172,605. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew J. Greenfield sold 4,440 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were 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. Company insiders own 3.50% of the company’s stock.
A number of equities analysts have recently weighed in on ABMD shares. BidaskClub cut ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research cut ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. ValuEngine cut ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 18th. Morgan Stanley increased their price target on ABIOMED from $370.00 to $396.00 and gave the stock an “equal weight” rating in a report on Thursday, October 11th. Finally, BTIG Research upgraded ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 price target for the company in a 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 company. The company has a consensus rating of “Buy” and a consensus target price of $402.78.
Shares of ABIOMED stock opened at $405.17 on Friday. ABIOMED, Inc. has a 12 month low of $186.72 and a 12 month high of $459.75. The stock has a market cap of $17.50 billion, a P/E ratio of 165.38, a PEG ratio of 3.18 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 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.36. ABIOMED had a return on equity of 20.09% and a net margin of 27.60%. The company 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 posted $0.54 EPS. ABIOMED’s revenue for the quarter was up 36.9% on a year-over-year basis. As a group, equities analysts anticipate that ABIOMED, Inc. will post 3.57 earnings per share for the current fiscal year.
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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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