Palladium Partners LLC maintained its position in ABIOMED, Inc. (NASDAQ:ABMD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,689 shares of the medical equipment provider’s stock at the end of the second quarter. Palladium Partners LLC’s holdings in ABIOMED were worth $242,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of ABMD. Huntington National Bank purchased a new position in ABIOMED during the second quarter valued at approximately $100,000. Creative Planning increased its position in shares of ABIOMED by 16.4% in the first quarter. Creative Planning now owns 916 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 129 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of ABIOMED during the first quarter worth about $200,000. Private Bank & Trust Co. bought a new position in shares of ABIOMED during the second quarter worth about $226,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of ABIOMED during the first quarter worth about $231,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.
ABIOMED, Inc. (NASDAQ ABMD) traded down 1.01% during midday trading on Friday, reaching $152.14. The company had a trading volume of 253,696 shares. ABIOMED, Inc. has a one year low of $95.14 and a one year high of $157.41. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 88.97 and a beta of 0.20. The company has a 50-day moving average price of $147.23 and a 200-day moving average price of $132.32.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $132.47 million during the quarter, compared to analyst estimates of $130.83 million. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. ABIOMED’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. On average, equities analysts expect that ABIOMED, Inc. will post $2.24 earnings per share for the current year.
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A number of equities analysts have recently issued reports on the company. BidaskClub downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Piper Jaffray Companies restated an “overweight” rating and set a $160.00 price objective (up from $145.00) on shares of ABIOMED in a research report on Thursday, July 27th. Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Jefferies Group LLC raised their price objective on ABIOMED from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, William Blair restated an “outperform” rating on shares of ABIOMED in a research report on Thursday, June 8th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. ABIOMED currently has an average rating of “Buy” and a consensus price target of $158.29.
In other ABIOMED news, COO David M. Weber sold 16,500 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $147.63, for a total transaction of $2,435,895.00. Following the sale, the chief operating officer now directly owns 125,122 shares in the company, valued at approximately $18,471,760.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul Thomas sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $154.71, for a total value of $1,547,100.00. Following the completion of the transaction, the director now owns 12,172 shares in the company, valued at $1,883,130.12. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.
ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.
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