Driehaus Capital Management LLC lifted its position in ABIOMED, Inc. (NASDAQ:ABMD) by 24.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,013 shares of the medical equipment provider’s stock after buying an additional 1,170 shares during the period. Driehaus Capital Management LLC’s holdings in ABIOMED were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Brown Capital Management LLC boosted its stake in shares of ABIOMED by 3.1% in the 4th quarter. Brown Capital Management LLC now owns 1,430,147 shares of the medical equipment provider’s stock worth $268,024,000 after buying an additional 43,076 shares during the last quarter. MANA Advisors LLC purchased a new position in shares of ABIOMED in the 4th quarter worth $341,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of ABIOMED in the 4th quarter worth $12,187,000. USA Financial Portformulas Corp purchased a new position in shares of ABIOMED in the 4th quarter worth $1,052,000. Finally, Geode Capital Management LLC boosted its stake in shares of ABIOMED by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 360,507 shares of the medical equipment provider’s stock worth $67,562,000 after buying an additional 10,862 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.
A number of equities analysts have recently issued reports on ABMD shares. SunTrust Banks restated a “buy” rating and issued a $370.00 price target on shares of ABIOMED in a research note on Friday, February 16th. Jefferies Group raised their price target on ABIOMED from $208.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. BidaskClub upgraded ABIOMED from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 20th. Piper Jaffray Companies restated a “buy” rating on shares of ABIOMED in a research note on Thursday, January 4th. Finally, Zacks Investment Research upgraded ABIOMED from a “hold” rating to a “buy” rating and set a $213.00 target price on the stock in a research report on Friday, December 29th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $288.86.
ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, February 1st. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.20. The company had revenue of $154.00 million for the quarter, compared to the consensus estimate of $154.00 million. ABIOMED had a return on equity of 15.54% and a net margin of 16.58%. ABIOMED’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. analysts expect that ABIOMED, Inc. will post 2.3 EPS for the current fiscal year.
In related news, VP Andrew J. Greenfield sold 20,000 shares of ABIOMED stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $270.36, for a total transaction of $5,407,200.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.00% of the stock is currently owned by insiders.
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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