Victory Capital Management Inc. trimmed its position in shares of Abiomed, Inc. (NASDAQ:ABMD) by 56.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,454 shares of the medical equipment provider’s stock after selling 27,264 shares during the period. Victory Capital Management Inc.’s holdings in Abiomed were worth $6,696,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Asset Management One Co. Ltd. grew its holdings in Abiomed by 4.8% during the second quarter. Asset Management One Co. Ltd. now owns 36,784 shares of the medical equipment provider’s stock valued at $11,480,000 after purchasing an additional 1,686 shares during the period. WoodTrust Financial Corp boosted its holdings in shares of Abiomed by 48.4% in the second quarter. WoodTrust Financial Corp now owns 1,150 shares of the medical equipment provider’s stock worth $359,000 after acquiring an additional 375 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Abiomed by 5.6% in the second quarter. Baillie Gifford & Co. now owns 3,633,412 shares of the medical equipment provider’s stock worth $1,134,024,000 after acquiring an additional 191,084 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Abiomed by 13.6% in the second quarter. Exchange Traded Concepts LLC now owns 13,490 shares of the medical equipment provider’s stock worth $4,210,000 after acquiring an additional 1,616 shares during the period. Finally, Eagle Bay Advisors LLC bought a new position in shares of Abiomed in the second quarter worth $72,000. 90.37% of the stock is owned by institutional investors and hedge funds.
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A number of research firms have recently commented on ABMD. TheStreet lowered Abiomed from a “b-” rating to a “c” rating in a report on Wednesday, August 4th. SVB Leerink increased their price objective on Abiomed from $335.00 to $375.00 and gave the stock a “market perform” rating in a research report on Friday, August 6th. Zacks Investment Research upgraded Abiomed from a “sell” rating to a “hold” rating and set a $345.00 price objective on the stock in a research report on Tuesday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Abiomed from $360.00 to $410.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $360.00.
NASDAQ ABMD opened at $372.69 on Monday. The stock has a market capitalization of $16.91 billion, a PE ratio of 110.92, a PEG ratio of 5.70 and a beta of 1.31. Abiomed, Inc. has a 1 year low of $242.73 and a 1 year high of $387.40. The business’s 50-day moving average is $332.66 and its 200 day moving average is $315.88.
Abiomed (NASDAQ:ABMD) last posted its quarterly earnings data on Tuesday, August 3rd. The medical equipment provider reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.35. The business had revenue of $252.59 million for the quarter, compared to analysts’ expectations of $243.81 million. Abiomed had a return on equity of 16.35% and a net margin of 16.51%. As a group, equities analysts anticipate that Abiomed, Inc. will post 4.18 EPS for the current year.
In related news, CEO Michael R. Minogue sold 3,492 shares of the business’s stock in a transaction that occurred on Monday, August 23rd. The shares were sold at an average price of $350.00, for a total value of $1,222,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael R. Minogue sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $325.35, for a total transaction of $8,133,750.00. Following the completion of the transaction, the chief executive officer now owns 236,635 shares of the company’s stock, valued at $76,989,197.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,663 shares of company stock worth $20,603,051. Insiders own 3.00% of the company’s stock.
Abiomed Company Profile
ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It distributes its products under the Impella brand. The company was founded by David M. Lederman in 1981 and is headquartered in Danvers, MA.
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