JPMorgan Chase & Co. cut its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 49.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,414 shares of the medical equipment provider’s stock after selling 13,115 shares during the period. JPMorgan Chase & Co.’s holdings in ABIOMED were worth $1,679,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. Brown Capital Management LLC boosted its stake in ABIOMED by 30.5% in the first quarter. Brown Capital Management LLC now owns 915,700 shares of the medical equipment provider’s stock valued at $114,646,000 after buying an additional 213,889 shares in the last quarter. Jennison Associates LLC acquired a new stake in ABIOMED during the first quarter valued at approximately $12,939,000. American Century Companies Inc. boosted its stake in ABIOMED by 95.1% in the first quarter. American Century Companies Inc. now owns 184,806 shares of the medical equipment provider’s stock valued at $23,138,000 after buying an additional 90,098 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in ABIOMED by 31.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 333,340 shares of the medical equipment provider’s stock valued at $41,734,000 after buying an additional 80,100 shares in the last quarter. Finally, Quantitative Investment Management LLC boosted its stake in ABIOMED by 542.1% in the first quarter. Quantitative Investment Management LLC now owns 73,200 shares of the medical equipment provider’s stock valued at $9,164,000 after buying an additional 61,800 shares in the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.
ABIOMED, Inc. (NASDAQ:ABMD) opened at 144.34 on Wednesday. The company’s 50-day moving average price is $142.39 and its 200 day moving average price is $126.65. The firm has a market capitalization of $6.29 billion, a PE ratio of 123.37 and a beta of 0.20. ABIOMED, Inc. has a one year low of $95.14 and a one year high of $147.45.
ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, May 4th. The medical equipment provider reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. The firm had revenue of $124.68 million during the quarter, compared to analyst estimates of $122.82 million. ABIOMED had a return on equity of 12.67% and a net margin of 11.70%. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. On average, analysts forecast that ABIOMED, Inc. will post $1.84 earnings per share for the current year.
ABMD has been the subject of several recent analyst reports. Piper Jaffray Companies raised ABIOMED from a “neutral” rating to an “overweight” rating and set a $145.00 price target for the company in a report on Thursday, April 6th. Leerink Swann lifted their price objective on ABIOMED from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 30th. William Blair reaffirmed an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. Zacks Investment Research cut ABIOMED from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 price objective (up from $135.00) on shares of ABIOMED in a report on Monday, July 10th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $151.86.
In other news, VP Michael G. Howley sold 18,279 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $133.56, for a total transaction of $2,441,343.24. Following the completion of the sale, the vice president now owns 62,105 shares in the company, valued at approximately $8,294,743.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David M. Weber sold 21,250 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $130.89, for a total value of $2,781,412.50. Following the sale, the chief operating officer now owns 123,771 shares of the company’s stock, valued at approximately $16,200,386.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,629 shares of company stock valued at $7,072,580. 7.00% of the stock is currently owned by corporate insiders.
ABIOMED Company Profile
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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