Gemmer Asset Management LLC boosted its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 153.8% during the first quarter, HoldingsChannel.com reports. The firm owned 165 shares of the medical equipment provider’s stock after buying an additional 100 shares during the period. Gemmer Asset Management LLC’s holdings in ABIOMED were worth $47,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in ABMD. JPMorgan Chase & Co. increased its stake in ABIOMED by 7.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,775 shares of the medical equipment provider’s stock worth $164,057,000 after purchasing an additional 24,531 shares during the period. Martingale Asset Management L P purchased a new position in ABIOMED in the 3rd quarter worth approximately $2,183,000. Dimensional Fund Advisors LP increased its stake in ABIOMED by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 144,681 shares of the medical equipment provider’s stock worth $65,065,000 after purchasing an additional 1,764 shares during the period. Standard Life Aberdeen plc increased its stake in ABIOMED by 1.7% in the 3rd quarter. Standard Life Aberdeen plc now owns 124,192 shares of the medical equipment provider’s stock worth $55,864,000 after purchasing an additional 2,095 shares during the period. Finally, Pacer Advisors Inc. increased its stake in ABIOMED by 17.9% in the 3rd quarter. Pacer Advisors Inc. now owns 2,328 shares of the medical equipment provider’s stock worth $1,047,000 after purchasing an additional 354 shares during the period. 87.94% of the stock is currently owned by institutional investors and hedge funds.
ABMD has been the topic of several research analyst reports. Zacks Investment Research raised ABIOMED from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub cut ABIOMED from a “sell” rating to a “strong sell” rating in a research note on Saturday. ValuEngine cut ABIOMED from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Finally, Morgan Stanley reduced their target price on ABIOMED from $496.00 to $461.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $422.40.
In related news, COO David M. Weber sold 24,000 shares of the company’s stock in a transaction on Friday, January 25th. The stock was sold at an average price of $351.47, for a total value of $8,435,280.00. Following the sale, the chief operating officer now directly owns 161,842 shares of the company’s stock, valued at $56,882,607.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Martin P. Sutter sold 5,985 shares of the company’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $349.49, for a total value of $2,091,697.65. Following the completion of the sale, the director now directly owns 212,943 shares in the company, valued at $74,421,449.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,928 shares of company stock worth $26,515,812. 3.50% of the stock is owned by insiders.
ABMD opened at $265.95 on Wednesday. ABIOMED, Inc. has a 52-week low of $264.54 and a 52-week high of $459.75. The company has a market cap of $12.28 billion, a PE ratio of 108.55, a price-to-earnings-growth ratio of 1.99 and a beta of 0.33.
ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, January 31st. The medical equipment provider reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The firm had revenue of $200.56 million for the quarter, compared to analysts’ expectations of $200.60 million. ABIOMED had a return on equity of 20.31% and a net margin of 30.12%. As a group, sell-side analysts anticipate that ABIOMED, Inc. will post 3.59 EPS for the current fiscal year.
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ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.
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