MERIAN GLOBAL INVESTORS UK Ltd decreased its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 20.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 509,723 shares of the medical equipment provider’s stock after selling 132,560 shares during the quarter. ABIOMED accounts for 1.3% of MERIAN GLOBAL INVESTORS UK Ltd’s portfolio, making the stock its 28th largest position. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in ABIOMED were worth $145,571,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in ABMD. Norges Bank purchased a new position in ABIOMED during the fourth quarter worth $158,786,000. Baillie Gifford & Co. increased its position in ABIOMED by 32.8% during the fourth quarter. Baillie Gifford & Co. now owns 1,068,859 shares of the medical equipment provider’s stock worth $347,422,000 after buying an additional 264,252 shares in the last quarter. Vanguard Group Inc increased its position in ABIOMED by 5.9% during the third quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock worth $2,090,091,000 after buying an additional 260,829 shares in the last quarter. 1832 Asset Management L.P. increased its position in ABIOMED by 74.2% during the fourth quarter. 1832 Asset Management L.P. now owns 333,300 shares of the medical equipment provider’s stock worth $106,483,000 after buying an additional 141,927 shares in the last quarter. Finally, AGF Investments Inc. purchased a new position in ABIOMED during the fourth quarter worth $34,914,000. 87.85% of the stock is owned by institutional investors.
In other news, Director Martin P. Sutter sold 4,664 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $259.97, for a total transaction of $1,212,500.08. Following the sale, the director now owns 192,550 shares in the company, valued at $50,057,223.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is owned by company insiders.
Several equities analysts have weighed in on the company. Zacks Investment Research raised ABIOMED from a “hold” rating to a “buy” rating and set a $311.00 price target for the company in a research report on Tuesday, April 2nd. BidaskClub cut ABIOMED from a “sell” rating to a “strong sell” rating in a report on Saturday, April 13th. ValuEngine cut ABIOMED from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Finally, BTIG Research restated a “buy” rating and set a $400.00 price objective on shares of ABIOMED in a report on Tuesday, January 22nd. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $408.67.
ABMD stock opened at $259.94 on Friday. ABIOMED, Inc. has a 52-week low of $228.00 and a 52-week high of $459.75. The firm has a market cap of $11.82 billion, a PE ratio of 72.13, a price-to-earnings-growth ratio of 2.03 and a beta of 0.29.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.53. ABIOMED had a return on equity of 20.32% and a net margin of 33.66%. The business had revenue of $207.08 million for the quarter, compared to analysts’ expectations of $218.88 million. During the same quarter last year, the firm earned $0.80 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. Research analysts expect that ABIOMED, Inc. will post 4.56 EPS for the current fiscal year.
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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 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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