Bank of America Corp DE grew its holdings in Abiomed, Inc. (NASDAQ:ABMD – Get Rating) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,594 shares of the medical equipment provider's stock after buying an additional 1,664 shares during the quarter. Bank of America Corp DE owned about 0.45% of Abiomed worth $67,768,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in Abiomed by 26.2% during the first quarter. Parallel Advisors LLC now owns 188 shares of the medical equipment provider's stock worth $62,000 after purchasing an additional 39 shares during the last quarter. Ellevest Inc. raised its holdings 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 last quarter. CIBC Asset Management Inc increased its position in Abiomed by 1.0% during the first quarter. CIBC Asset Management Inc now owns 4,317 shares of the medical equipment provider's stock worth $1,430,000 after buying an additional 44 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Abiomed by 1.9% during the first quarter. Crossmark Global Holdings Inc. now owns 2,720 shares of the medical equipment provider's stock worth $901,000 after buying an additional 50 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Abiomed by 96.5% during the first quarter. Parkside Financial Bank & Trust now owns 112 shares of the medical equipment provider's stock worth $38,000 after buying an additional 55 shares in the last quarter. 92.96% of the stock is owned by institutional investors and hedge funds.
Get Abiomed alerts:Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. StockNews.com downgraded Abiomed from a "buy" rating to a "hold" rating in a research report on Friday, July 1st. Morgan Stanley dropped their price target on Abiomed from $275.00 to $235.00 and set an "underweight" rating for the company in a research report on Friday, July 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Abiomed from $410.00 to $355.00 in a research report on Thursday, July 21st.
Insider Activity at Abiomed
In related news, 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 value of $127,975.00. Following the transaction, the vice president now owns 15,785 shares in the company, valued at $4,040,170.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Abiomed news, VP Marc A. Began sold 500 shares of the business's stock in a transaction dated 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 in the company, valued at $4,040,170.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Todd A. Trapp sold 1,000 shares of the business's stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 16,927 shares in the company, valued at approximately $5,078,100. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.Abiomed Stock Down 0.7 %
Shares of NASDAQ:ABMD opened at $245.53 on Monday. The company has a market cap of $11.20 billion, a P/E ratio of 51.80 and a beta of 1.37. Abiomed, Inc. has a 52 week low of $219.85 and a 52 week high of $379.30. The business has a fifty day simple moving average of $274.22 and a 200-day simple moving average of $275.00.
Abiomed (NASDAQ:ABMD – Get Rating) last issued its earnings results on Thursday, August 4th. The medical equipment provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.17. Abiomed had a return on equity of 14.33% and a net margin of 20.60%. The firm had revenue of $277.15 million for the quarter, compared to analysts' expectations of $276.46 million. During the same quarter last year, the firm earned $1.10 earnings per share. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts expect that Abiomed, Inc. will post 4.77 earnings per share for the current fiscal year.
Abiomed 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.
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