Pillar Pacific Capital Management LLC Reduces Stock Position in ABIOMED, Inc. (NASDAQ:ABMD)

Pillar Pacific Capital Management LLC reduced its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,500 shares of the medical equipment provider’s stock after selling 75 shares during the period. Pillar Pacific Capital Management LLC’s holdings in ABIOMED were worth $267,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ABMD. Nomura Holdings Inc. lifted its position in shares of ABIOMED by 95.5% in the 2nd quarter. Nomura Holdings Inc. now owns 7,709 shares of the medical equipment provider’s stock worth $2,043,000 after purchasing an additional 3,765 shares during the period. Bessemer Group Inc. increased its stake in shares of ABIOMED by 132,163.4% in the 2nd quarter. Bessemer Group Inc. now owns 148,135 shares of the medical equipment provider’s stock valued at $38,588,000 after purchasing an additional 148,023 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of ABIOMED by 17,845.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 197,759 shares of the medical equipment provider’s stock valued at $51,514,000 after purchasing an additional 196,657 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of ABIOMED by 2.1% in the 2nd quarter. CIBC Asset Management Inc now owns 4,093 shares of the medical equipment provider’s stock valued at $1,066,000 after purchasing an additional 85 shares during the last quarter. Finally, Commerce Bank bought a new position in shares of ABIOMED in the 2nd quarter valued at $330,000. Institutional investors own 91.19% of the company’s stock.

Shares of ABIOMED stock traded down $1.45 during trading on Friday, hitting $217.68. 13,173 shares of the stock traded hands, compared to its average volume of 772,096. The stock has a market cap of $9.82 billion, a P/E ratio of 61.03, a PEG ratio of 1.90 and a beta of 0.37. ABIOMED, Inc. has a twelve month low of $155.02 and a twelve month high of $420.18. The company has a fifty day moving average price of $182.89 and a two-hundred day moving average price of $226.11.

ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, October 31st. The medical equipment provider reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.10. ABIOMED had a return on equity of 19.89% and a net margin of 26.92%. The business had revenue of $204.97 million during the quarter, compared to analysts’ expectations of $206.45 million. During the same period last year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, analysts forecast that ABIOMED, Inc. will post 4.32 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on the company. BidaskClub upgraded ABIOMED from a “sell” rating to a “hold” rating in a research note on Thursday. William Blair reissued a “buy” rating on shares of ABIOMED in a research report on Monday, September 30th. TheStreet downgraded shares of ABIOMED from a “b-” rating to a “c+” rating in a research report on Thursday, August 22nd. Guggenheim downgraded shares of ABIOMED from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Finally, ValuEngine raised shares of ABIOMED from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. ABIOMED currently has a consensus rating of “Hold” and a consensus target price of $301.20.

About ABIOMED

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.

Featured Story: Why is the LIBOR significant?

Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

Receive News & Ratings for ABIOMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABIOMED and related companies with MarketBeat.com's FREE daily email newsletter.