Insider Selling: Abiomed Inc. (ABMD) CEO Sells 58,710 Shares of Stock
Abiomed Inc. (NASDAQ:ABMD) CEO Michael R. Minogue sold 58,710 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $127.00, for a total value of $7,456,170.00. Following the sale, the chief executive officer now directly owns 215,782 shares in the company, valued at $27,404,314. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Abiomed Inc. (NASDAQ:ABMD) traded up 1.44% during midday trading on Wednesday, reaching $126.90. The company had a trading volume of 309,869 shares. Abiomed Inc. has a 1-year low of $67.81 and a 1-year high of $127.19. The firm’s 50 day moving average is $120.78 and its 200 day moving average is $106.06. The stock has a market capitalization of $5.43 billion, a PE ratio of 135.00 and a beta of 0.89.
Abiomed (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.06. Abiomed had a net margin of 11.75% and a return on equity of 11.86%. The business earned $103 million during the quarter, compared to analyst estimates of $97.23 million. During the same period in the previous year, the business posted $0.20 EPS. The company’s quarterly revenue was up 40.3% on a year-over-year basis. On average, equities analysts anticipate that Abiomed Inc. will post $1.17 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in Abiomed by 56.3% in the first quarter. State Street Corp now owns 1,316,168 shares of the company’s stock valued at $124,787,000 after buying an additional 474,209 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Abiomed by 2.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,160,974 shares of the company’s stock valued at $126,883,000 after buying an additional 23,236 shares during the period. 1832 Asset Management L.P. raised its position in Abiomed by 40.3% in the second quarter. 1832 Asset Management L.P. now owns 1,122,900 shares of the company’s stock valued at $201,891,000 after buying an additional 322,600 shares during the period. Lord Abbett & CO. LLC raised its position in Abiomed by 21.8% in the second quarter. Lord Abbett & CO. LLC now owns 829,341 shares of the company’s stock valued at $90,639,000 after buying an additional 148,400 shares during the period. Finally, Brown Capital Management LLC raised its position in Abiomed by 29.5% in the second quarter. Brown Capital Management LLC now owns 593,959 shares of the company’s stock valued at $64,914,000 after buying an additional 135,436 shares during the period. 93.65% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. Jefferies Group reaffirmed a “buy” rating and set a $125.00 price target on shares of Abiomed in a research report on Friday, June 10th. Zacks Investment Research downgraded Abiomed from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $115.59.
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