Falcon Point Capital LLC cut its position in Abiomed Inc. (NASDAQ:ABMD) by 7.3% during the second quarter, Holdings Channel reports. The firm owned 85,726 shares of the company’s stock after selling 6,733 shares during the period. Falcon Point Capital LLC’s holdings in Abiomed were worth $9,369,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the company. 1832 Asset Management L.P. purchased a new position in Abiomed during the first quarter worth about $121,655,000. Norges Bank bought a new stake in Abiomed during the fourth quarter worth approximately $46,385,000. State Street Corp boosted its stake in Abiomed by 56.3% in the first quarter. State Street Corp now owns 1,316,168 shares of the company’s stock worth $124,787,000 after buying an additional 474,209 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Abiomed by 152.5% in the first quarter. Renaissance Technologies LLC now owns 287,100 shares of the company’s stock worth $27,220,000 after buying an additional 173,400 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Abiomed by 17.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,137,738 shares of the company’s stock worth $107,869,000 after buying an additional 167,040 shares in the last quarter. Institutional investors and hedge funds own 93.65% of the company’s stock.
Shares of Abiomed Inc. (NASDAQ:ABMD) traded down 2.25% on Friday, reaching $123.53. The company’s stock had a trading volume of 293,179 shares. The firm has a 50 day moving average price of $121.06 and a 200-day moving average price of $106.47. Abiomed Inc. has a 12-month low of $67.81 and a 12-month high of $127.86. The stock has a market cap of $5.29 billion, a PE ratio of 131.41 and a beta of 0.89.
Abiomed (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.06. The firm 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 business’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. Equities research analysts expect that Abiomed Inc. will post $1.17 EPS for the current year.
A number of equities research analysts have recently commented on ABMD shares. Zacks Investment Research raised Abiomed from a “hold” rating to a “buy” rating and set a $138.00 target price on the stock in a research note on Friday, September 16th. Jefferies Group increased their price objective on Abiomed from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Abiomed currently has a consensus rating of “Buy” and a consensus target price of $115.59.
In other news, CEO Michael R. Minogue sold 5,034 shares of the business’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $127.07, for a total value of $639,670.38. Following the completion of the transaction, the chief executive officer now directly owns 215,782 shares of the company’s stock, valued at approximately $27,419,418.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael G. Howley sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $106.58, for a total value of $1,065,800.00. Following the completion of the transaction, the vice president now directly owns 65,558 shares of the company’s stock, valued at $6,987,171.64. The disclosure for this sale can be found here. 10.00% of the stock is owned by insiders.
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