Turner Investments LLC raised its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,600 shares of the medical equipment provider’s stock after buying an additional 400 shares during the period. Turner Investments LLC’s holdings in ABIOMED were worth $1,376,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in ABMD. Huntington National Bank acquired a new stake in shares of ABIOMED during the second quarter worth $100,000. Creative Planning raised its stake in shares of ABIOMED by 16.4% in the first quarter. Creative Planning now owns 916 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 129 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in shares of ABIOMED during the first quarter worth $200,000. Palladium Partners LLC acquired a new stake in shares of ABIOMED during the first quarter worth $211,000. Finally, Private Bank & Trust Co. acquired a new stake in shares of ABIOMED during the second quarter worth $226,000. Institutional investors own 91.09% of the company’s stock.
Shares of ABIOMED, Inc. (NASDAQ:ABMD) opened at 152.14 on Friday. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 88.97 and a beta of 0.20. ABIOMED, Inc. has a 12 month low of $95.14 and a 12 month high of $157.41. The company has a 50-day moving average price of $147.23 and a 200-day moving average price of $132.32.
ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The business had revenue of $132.47 million during the quarter, compared to analysts’ expectations of $130.83 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. Equities analysts forecast that ABIOMED, Inc. will post $2.24 EPS for the current fiscal year.
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A number of analysts have recently weighed in on the company. William Blair restated an “outperform” rating on shares of ABIOMED in a research note on Thursday, June 8th. Zacks Investment Research upgraded ABIOMED from a “hold” rating to a “strong-buy” rating and set a $163.00 target price for the company in a research note on Thursday, July 13th. BidaskClub lowered ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Piper Jaffray Companies set a $145.00 target price on ABIOMED in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC raised their target price on ABIOMED from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $158.29.
In other ABIOMED news, COO David M. Weber sold 16,500 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $147.63, for a total value of $2,435,895.00. Following the completion of the transaction, the chief operating officer now owns 125,122 shares of the company’s stock, valued at approximately $18,471,760.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul Thomas sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $154.71, for a total value of $1,547,100.00. Following the completion of the transaction, the director now directly owns 12,172 shares of the company’s stock, valued at approximately $1,883,130.12. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.
About ABIOMED
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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