OppenheimerFunds Inc. raised its position in ABIOMED, Inc. (NASDAQ:ABMD) by 5.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 89,678 shares of the medical equipment provider’s stock after acquiring an additional 4,821 shares during the quarter. OppenheimerFunds Inc.’s holdings in ABIOMED were worth $25,611,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Sontag Advisory LLC acquired a new position in shares of ABIOMED during the 4th quarter worth approximately $25,000. Bremer Bank National Association acquired a new position in shares of ABIOMED during the 1st quarter worth approximately $27,000. Sterling Investment Advisors Ltd. boosted its holdings in shares of ABIOMED by 233.3% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 100 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 70 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of ABIOMED by 1,187.5% during the 4th quarter. Captrust Financial Advisors now owns 103 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 95 shares during the last quarter. Finally, Gemmer Asset Management LLC boosted its holdings in shares of ABIOMED by 153.8% during the 1st quarter. Gemmer Asset Management LLC now owns 165 shares of the medical equipment provider’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 87.13% of the company’s stock.
A number of research firms recently commented on ABMD. Zacks Investment Research cut ABIOMED from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. BidaskClub cut ABIOMED from a “sell” rating to a “strong sell” rating in a report on Saturday, April 13th. Finally, ValuEngine cut ABIOMED from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. ABIOMED presently has a consensus rating of “Hold” and an average price target of $398.40.
ABMD opened at $255.53 on Friday. ABIOMED, Inc. has a one year low of $228.00 and a one year high of $459.75. The company has a market capitalization of $11.49 billion, a P/E ratio of 70.98, a price-to-earnings-growth ratio of 2.02 and a beta of 0.39.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.53. ABIOMED had a return on equity of 20.32% and a net margin of 33.66%. The firm had revenue of $207.08 million for the quarter, compared to analysts’ expectations of $218.88 million. During the same period in the prior year, the firm posted $0.80 earnings per share. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. Equities analysts anticipate that ABIOMED, Inc. will post 4.5 EPS for the current fiscal year.
In other ABIOMED news, Director Martin P. Sutter sold 4,664 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $259.97, for a total value of $1,212,500.08. Following the sale, the director now owns 192,550 shares of the company’s stock, valued at $50,057,223.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.50% 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 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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