Insider Selling: ABIOMED, Inc. (ABMD) VP Sells 11,282 Shares of Stock
ABIOMED, Inc. (NASDAQ:ABMD) VP Andrew J. Greenfield sold 11,282 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $169.32, for a total transaction of $1,910,268.24. The sale was disclosed in a legal filing with the SEC, which is available at this link.
ABIOMED, Inc. (NASDAQ:ABMD) traded up 1.79% on Wednesday, reaching $171.80. 250,462 shares of the company traded hands. ABIOMED, Inc. has a 52-week low of $95.14 and a 52-week high of $171.95. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 100.47 and a beta of 0.27. The firm has a 50 day moving average price of $156.31 and a 200 day moving average price of $141.85.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The business had revenue of $132.47 million during the quarter, compared to analysts’ expectations of $130.83 million. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. Equities research analysts predict that ABIOMED, Inc. will post $2.24 EPS for the current year.
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Several brokerages have recently weighed in on ABMD. Jefferies Group LLC increased their price objective on shares of ABIOMED from $175.00 to $208.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Piper Jaffray Companies reiterated a “buy” rating and set a $160.00 price objective on shares of ABIOMED in a report on Tuesday, August 29th. William Blair restated an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “strong-buy” rating and set a $163.00 price target on the stock in a report on Thursday, July 13th. Finally, BidaskClub lowered shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $167.00.
Several hedge funds and other institutional investors have recently made changes to their positions in ABMD. BlackRock Inc. grew its stake in shares of ABIOMED by 10,945.5% in the 1st quarter. BlackRock Inc. now owns 3,270,245 shares of the medical equipment provider’s stock valued at $409,433,000 after buying an additional 3,240,638 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of ABIOMED by 184.3% in the 1st quarter. Baillie Gifford & Co. now owns 1,672,435 shares of the medical equipment provider’s stock valued at $209,389,000 after buying an additional 1,084,264 shares in the last quarter. Koch Industries Inc. grew its stake in shares of ABIOMED by 40,431.3% in the 2nd quarter. Koch Industries Inc. now owns 799,277 shares of the medical equipment provider’s stock valued at $794,000 after buying an additional 797,305 shares in the last quarter. FMR LLC bought a new stake in shares of ABIOMED in the 2nd quarter valued at approximately $32,609,000. Finally, Renaissance Technologies LLC grew its stake in shares of ABIOMED by 33.6% in the 2nd quarter. Renaissance Technologies LLC now owns 893,223 shares of the medical equipment provider’s stock valued at $127,999,000 after buying an additional 224,523 shares in the last quarter. 89.69% of the stock is owned by institutional investors and hedge funds.
ABIOMED Company Profile
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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