Flagship Harbor Advisors LLC increased its holdings in shares of Abiomed, Inc. (NASDAQ:ABMD – Get Rating) by 19.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,299 shares of the medical equipment provider's stock after acquiring an additional 208 shares during the quarter. Flagship Harbor Advisors LLC's holdings in Abiomed were worth $322,000 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. Pinebridge Investments L.P. purchased a new position in Abiomed during the first quarter worth about $25,000. Sugarloaf Wealth Management LLC purchased a new position in Abiomed during the second quarter worth about $25,000. Ellevest Inc. raised its stake in Abiomed by 72.9% during the first quarter. Ellevest Inc. now owns 102 shares of the medical equipment provider's stock worth $34,000 after purchasing an additional 43 shares during the period. Allworth Financial LP raised its stake in Abiomed by 5,350.0% during the first quarter. Allworth Financial LP now owns 109 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 107 shares during the period. Finally, O Dell Group LLC purchased a new position in Abiomed during the first quarter worth about $37,000. 92.96% of the stock is currently owned by institutional investors and hedge funds.
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Abiomed Stock Performance
Abiomed stock opened at $245.53 on Friday. The company's 50 day simple moving average is $274.22 and its 200-day simple moving average is $275.43. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 51.80 and a beta of 1.37. Abiomed, Inc. has a 1 year low of $219.85 and a 1 year high of $379.30.
Abiomed (NASDAQ:ABMD – Get Rating) last announced its earnings results on Thursday, August 4th. The medical equipment provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.17. Abiomed had a net
margin of 20.60% and a return on equity of 14.33%. The firm had revenue of $277.15 million for the quarter, compared to the consensus estimate of $276.46 million. During the same period in the prior year, the firm earned $1.10 EPS. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts expect that Abiomed, Inc. will post 4.77 earnings per share for the current year.
Insider Buying and Selling
In related news, CFO Todd A. Trapp sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 16,927 shares of the company's stock, valued at approximately $5,078,100. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Todd A. Trapp sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 16,927 shares of the company's stock, valued at approximately $5,078,100. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Marc A. Began sold 500 shares of the business's stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $255.95, for a total transaction of $127,975.00. Following the transaction, the vice president now owns 15,785 shares of the company's stock, valued at approximately $4,040,170.75. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.
Analysts Set New Price Targets
ABMD has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Abiomed from $410.00 to $355.00 in a research note on Thursday, July 21st. StockNews.com downgraded shares of Abiomed from a "buy" rating to a "hold" rating in a research note on Friday, July 1st. Finally, Morgan Stanley reduced their price target on shares of Abiomed from $275.00 to $235.00 and set an "underweight" rating on the stock in a research note on Friday, July 15th.
About Abiomed
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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 a continuum of care to heart failure patients. The company offers Impella 2.5, a percutaneous micro heart pump with integrated motor and sensors; and Impella CP, a device for use by interventional cardiologists to support patients in the cath lab, as well as by cardiac surgeons in the heart surgery suite.
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