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Brookstone Capital Management Has $409,000 Position in Abiomed, Inc. (NASDAQ:ABMD)

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Brookstone Capital Management reduced its stake in Abiomed, Inc. (NASDAQ:ABMD – Get Rating) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,532 shares of the medical equipment provider's stock after selling 92 shares during the period. Brookstone Capital Management's holdings in Abiomed were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Pinebridge Investments L.P. acquired a new stake in Abiomed during the 1st quarter worth approximately $25,000. Ellevest Inc. boosted its position in Abiomed by 72.9% during the 1st quarter. Ellevest Inc. now owns 102 shares of the medical equipment provider's stock worth $34,000 after buying an additional 43 shares during the period. Allworth Financial LP boosted its position in Abiomed by 5,350.0% during the 1st quarter. Allworth Financial LP now owns 109 shares of the medical equipment provider's stock worth $36,000 after buying an additional 107 shares during the period. O Dell Group LLC bought a new position in Abiomed during the 1st quarter worth approximately $37,000. Finally, Parkside Financial Bank & Trust raised its holdings in Abiomed by 96.5% during the 1st quarter. Parkside Financial Bank & Trust now owns 112 shares of the medical equipment provider's stock worth $38,000 after purchasing an additional 55 shares during the last quarter. 92.96% of the stock is currently owned by institutional investors and hedge funds.

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Abiomed Stock Down 0.7 %

NASDAQ:ABMD opened at $245.53 on Friday. The company has a fifty day moving average of $274.22 and a 200-day moving average of $275.43. The firm has a market capitalization of $11.20 billion, a P/E ratio of 51.80 and a beta of 1.37. Abiomed, Inc. has a twelve month low of $219.85 and a twelve month high of $379.30.

Abiomed (NASDAQ:ABMD – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The medical equipment provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.17. The company had revenue of $277.15 million during the quarter, compared to analyst estimates of $276.46 million. Abiomed had a net margin of 20.60% and a return on equity of 14.33%. Abiomed's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 EPS. On average, analysts anticipate that Abiomed, Inc. will post 4.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ABMD has been the subject of several analyst reports. StockNews.com lowered shares of Abiomed from a "buy" rating to a "hold" rating in a report on Friday, July 1st. Morgan Stanley lowered their price target on shares of Abiomed from $275.00 to $235.00 and set an "underweight" rating for the company in a report on Friday, July 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Abiomed from $410.00 to $355.00 in a report on Thursday, July 21st.

Insider Buying and Selling at Abiomed

In other Abiomed news, VP Marc A. Began sold 500 shares of the business's stock in a transaction on Monday, August 29th. The shares were sold at an average price of $255.95, for a total transaction of $127,975.00. Following the completion of the sale, the vice president now owns 15,785 shares in the company, valued at approximately $4,040,170.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Abiomed news, CFO Todd A. Trapp sold 1,000 shares of Abiomed stock in a transaction 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 transaction, the chief financial officer now directly owns 16,927 shares of the company's stock, valued at approximately $5,078,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Marc A. Began sold 500 shares of Abiomed stock in a transaction 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 directly owns 15,785 shares in the company, valued at $4,040,170.75. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Abiomed Company Profile

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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.

Further Reading

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