Thoroughbred Financial Services LLC lifted its holdings in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 8.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,138 shares of the medical equipment provider’s stock after buying an additional 85 shares during the period. Thoroughbred Financial Services LLC’s holdings in ABIOMED were worth $325,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in ABIOMED by 7.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 364,775 shares of the medical equipment provider’s stock worth $164,057,000 after acquiring an additional 24,531 shares during the period. Teachers Advisors LLC raised its position in shares of ABIOMED by 34.4% during the third quarter. Teachers Advisors LLC now owns 108,805 shares of the medical equipment provider’s stock valued at $48,935,000 after buying an additional 27,825 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of ABIOMED by 30.0% during the third quarter. TIAA CREF Investment Management LLC now owns 232,758 shares of the medical equipment provider’s stock valued at $104,683,000 after buying an additional 53,671 shares during the last quarter. Legal & General Group Plc raised its position in shares of ABIOMED by 167.1% during the third quarter. Legal & General Group Plc now owns 167,174 shares of the medical equipment provider’s stock valued at $75,186,000 after buying an additional 104,583 shares during the last quarter. Finally, Vanguard Group Inc raised its position in shares of ABIOMED by 5.9% during the third quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock valued at $2,090,091,000 after buying an additional 260,829 shares during the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.
In related news, Director Martin P. Sutter sold 4,664 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $259.97, for a total value of $1,212,500.08. Following the completion of the transaction, the director now directly owns 192,550 shares of the company’s stock, valued at $50,057,223.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.50% of the company’s stock.
Shares of ABMD stock traded down $0.48 on Friday, reaching $261.66. The company’s stock had a trading volume of 12,585 shares, compared to its average volume of 996,472. ABIOMED, Inc. has a 1 year low of $228.00 and a 1 year high of $459.75. The firm has a market cap of $11.82 billion, a PE ratio of 73.00, a price-to-earnings-growth ratio of 2.03 and a beta of 0.29.
ABIOMED (NASDAQ:ABMD) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.53. ABIOMED had a net margin of 33.66% and a return on equity of 20.32%. The firm had revenue of $207.08 million during the quarter, compared to analyst estimates of $218.88 million. During the same period last year, the firm posted $0.80 earnings per share. ABIOMED’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, research analysts anticipate that ABIOMED, Inc. will post 4.56 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on ABMD shares. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “buy” rating and set a $370.00 price objective on the stock in a research report on Friday, January 18th. SunTrust Banks reiterated a “buy” rating and set a $340.00 price objective on shares of ABIOMED in a research report on Friday, May 3rd. ValuEngine upgraded shares of ABIOMED from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. BidaskClub cut shares of ABIOMED from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, BTIG Research reiterated a “buy” rating on shares of ABIOMED in a research report on Tuesday, May 7th. Three analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. ABIOMED currently has an average rating of “Hold” and an average price target of $408.67.
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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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