Meadow Creek Investment Management LLC boosted its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 51.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,036 shares of the medical equipment provider’s stock after purchasing an additional 2,716 shares during the period. Meadow Creek Investment Management LLC’s holdings in ABIOMED were worth $1,506,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of ABMD. Crow Point Partners LLC bought a new position in ABIOMED in the 4th quarter valued at approximately $120,000. Cerebellum GP LLC bought a new position in shares of ABIOMED during the fourth quarter valued at $127,000. SeaCrest Wealth Management LLC bought a new position in shares of ABIOMED during the fourth quarter valued at $183,000. Advisor Partners LLC bought a new position in shares of ABIOMED during the fourth quarter valued at $209,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in shares of ABIOMED during the third quarter valued at $215,000. 88.41% of the stock is owned by institutional investors and hedge funds.
ABIOMED, Inc. (ABMD) opened at $287.98 on Tuesday. ABIOMED, Inc. has a 52 week low of $117.36 and a 52 week high of $304.28. The firm has a market cap of $12,975.62, a price-to-earnings ratio of 145.44, a P/E/G ratio of 4.06 and a beta of 0.25.
ABIOMED (NASDAQ:ABMD) last announced its earnings results on Thursday, February 1st. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.20. ABIOMED had a net margin of 16.58% and a return on equity of 15.54%. The business had revenue of $154.00 million during the quarter, compared to the consensus estimate of $154.00 million. During the same quarter last year, the firm earned $0.34 earnings per share. ABIOMED’s quarterly revenue was up 34.9% on a year-over-year basis. equities analysts anticipate that ABIOMED, Inc. will post 2.29 earnings per share for the current fiscal year.
ABMD has been the subject of several analyst reports. SunTrust Banks reaffirmed a “buy” rating and set a $370.00 price target on shares of ABIOMED in a research note on Friday, February 16th. Jefferies Group raised their price target on shares of ABIOMED from $208.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. BidaskClub raised shares of ABIOMED from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 20th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of ABIOMED in a research note on Thursday, January 4th. Finally, Zacks Investment Research raised shares of ABIOMED from a “hold” rating to a “buy” rating and set a $213.00 price target for the company in a research note on Friday, December 29th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $288.86.
In other ABIOMED news, VP Andrew J. Greenfield sold 20,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $270.36, for a total value of $5,407,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.00% of the company’s stock.
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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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