Washington Capital Management Inc. lifted its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 42.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,500 shares of the medical equipment provider’s stock after purchasing an additional 450 shares during the period. Washington Capital Management Inc.’s holdings in ABIOMED were worth $391,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bremer Bank National Association acquired a new position in ABIOMED in the 1st quarter valued at about $27,000. Sterling Investment Advisors Ltd. increased its position in ABIOMED by 233.3% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 100 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 70 shares during the period. Executive Wealth Management LLC increased its position in ABIOMED by 100.0% in the 2nd quarter. Executive Wealth Management LLC now owns 100 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 50 shares during the period. Meridian Wealth Management LLC acquired a new position in ABIOMED in the 1st quarter valued at about $40,000. Finally, Tompkins Financial Corp acquired a new position in ABIOMED in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 91.48% of the company’s stock.
Several equities analysts recently issued reports on the company. Guggenheim cut ABIOMED from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. BidaskClub upgraded ABIOMED from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 24th. Zacks Investment Research cut ABIOMED from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. TheStreet cut ABIOMED from a “b-” rating to a “c+” rating in a research report on Thursday. Finally, Morgan Stanley cut ABIOMED from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $325.00 to $215.00 in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $316.50.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.01. ABIOMED had a return on equity of 19.84% and a net margin of 32.35%. The company had revenue of $207.70 million for the quarter, compared to analyst estimates of $210.96 million. During the same quarter in the previous year, the company earned $1.95 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, research analysts anticipate that ABIOMED, Inc. will post 4.3 EPS for the current year.
In other news, COO David M. Weber sold 8,095 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.26, for a total transaction of $1,669,674.70. Following the sale, the chief operating officer now owns 132,913 shares of the company’s stock, valued at approximately $27,414,635.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is currently owned by insiders.
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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