Beaumont Financial Partners LLC increased its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 24.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,250 shares of the medical equipment provider’s stock after buying an additional 445 shares during the period. Beaumont Financial Partners LLC’s holdings in ABIOMED were worth $322,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Menta Capital LLC purchased a new stake in ABIOMED during the second quarter worth about $513,000. Nicholas Investment Partners LP increased its holdings in ABIOMED by 72.9% during the second quarter. Nicholas Investment Partners LP now owns 71,712 shares of the medical equipment provider’s stock worth $10,276,000 after buying an additional 30,235 shares during the last quarter. New York State Common Retirement Fund increased its holdings in ABIOMED by 32.3% during the second quarter. New York State Common Retirement Fund now owns 307,871 shares of the medical equipment provider’s stock worth $44,118,000 after buying an additional 75,200 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in ABIOMED by 15.6% during the second quarter. PNC Financial Services Group Inc. now owns 9,067 shares of the medical equipment provider’s stock worth $1,299,000 after buying an additional 1,225 shares during the last quarter. Finally, Stevens Capital Management LP purchased a new stake in ABIOMED during the second quarter worth about $1,187,000. Institutional investors and hedge funds own 89.69% of the company’s stock.
Shares of ABIOMED, Inc. (ABMD) traded down 0.896% during midday trading on Tuesday, reaching $156.486. 80,458 shares of the company’s stock traded hands. The firm has a market capitalization of $6.90 billion, a PE ratio of 91.512 and a beta of 0.22. The stock’s 50-day moving average price is $152.55 and its 200 day moving average price is $138.53. ABIOMED, Inc. has a one year low of $95.14 and a one year high of $159.80.
ABIOMED (NASDAQ:ABMD) last issued its quarterly 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. The company had revenue of $132.47 million during the quarter, compared to the consensus estimate of $130.83 million. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. ABIOMED’s revenue was up 28.6% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. On average, equities research analysts expect that ABIOMED, Inc. will post $2.24 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the stock. BidaskClub downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Piper Jaffray Companies restated an “overweight” rating and set a $160.00 price objective (up previously from $145.00) on shares of ABIOMED in a report on Thursday, July 27th. Zacks Investment Research downgraded shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Jefferies Group LLC raised their price objective on shares of ABIOMED from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Finally, William Blair reiterated an “outperform” rating on shares of ABIOMED in a research note on Thursday, June 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. ABIOMED presently has a consensus rating of “Buy” and a consensus price target of $158.29.
In related news, COO David M. Weber sold 16,500 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now directly owns 125,122 shares in the company, valued at $18,471,760.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric A. Md Rose sold 982 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $145.17, for a total value of $142,556.94. Following the completion of the sale, the director now owns 13,634 shares of the company’s stock, valued at $1,979,247.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,500 shares of company stock valued at $7,603,342. 7.00% of the stock is owned by corporate insiders.
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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