Cypress Capital Management LLC WY purchased a new stake in shares of Abiomed Inc. (NASDAQ:ABMD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 970 shares of the company’s stock, valued at approximately $106,000.
Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. boosted its position in shares of Abiomed by 94.3% in the first quarter. Bessemer Group Inc. now owns 1,226 shares of the company’s stock valued at $116,000 after buying an additional 595 shares in the last quarter. Affinity Wealth Management purchased a new position in shares of Abiomed during the first quarter valued at about $200,000. LS Investment Advisors LLC boosted its position in shares of Abiomed by 68.4% in the second quarter. LS Investment Advisors LLC now owns 2,615 shares of the company’s stock valued at $286,000 after buying an additional 1,062 shares in the last quarter. Miles Capital Inc. purchased a new position in shares of Abiomed during the first quarter valued at about $253,000. Finally, Virginia Retirement System purchased a new position in shares of Abiomed during the first quarter valued at about $303,000. 93.43% of the stock is owned by institutional investors and hedge funds.
Shares of Abiomed Inc. (NASDAQ:ABMD) traded up 0.70% during midday trading on Monday, hitting $127.95. The stock had a trading volume of 333,901 shares. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 136.12 and a beta of 0.75. The company’s 50-day moving average price is $124.24 and its 200-day moving average price is $111.10. Abiomed Inc. has a 12-month low of $67.81 and a 12-month high of $132.95.
Abiomed (NASDAQ:ABMD) last released its earnings results on Thursday, July 28th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.06. The company earned $103 million during the quarter, compared to analyst estimates of $97.23 million. Abiomed had a return on equity of 11.86% and a net margin of 11.75%. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. Equities research analysts forecast that Abiomed Inc. will post $1.17 EPS for the current year.
Several brokerages recently issued reports on ABMD. Zacks Investment Research raised Abiomed from a “hold” rating to a “strong-buy” rating and set a $146.00 price objective for the company in a report on Wednesday, October 5th. Leerink Swann reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Abiomed in a report on Wednesday, September 28th. Finally, Jefferies Group boosted their price target on Abiomed from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $116.59.
In related news, CEO Michael R. Minogue sold 58,710 shares of the stock in a transaction on Monday, September 19th. The stock was sold at an average price of $127.00, for a total transaction of $7,456,170.00. Following the completion of the sale, the chief executive officer now directly owns 215,782 shares in the company, valued at $27,404,314. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael R. Minogue sold 28,039 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $127.07, for a total value of $3,562,915.73. Following the sale, the chief executive officer now owns 215,488 shares of the company’s stock, valued at $27,382,060.16. The disclosure for this sale can be found here. 10.00% of the stock is owned by insiders.
Abiomed Company Profile
ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.
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