Soros Fund Management LLC Invests $300,000 in ABIOMED, Inc. (ABMD)

Soros Fund Management LLC acquired a new stake in ABIOMED, Inc. (NASDAQ:ABMD) during the first quarter, Holdings Channel reports. The firm acquired 2,400 shares of the medical equipment provider’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janus Capital Management LLC increased its stake in shares of ABIOMED by 29.0% in the fourth quarter. Janus Capital Management LLC now owns 136,379 shares of the medical equipment provider’s stock valued at $15,367,000 after buying an additional 30,692 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of ABIOMED by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,663 shares of the medical equipment provider’s stock valued at $302,000 after buying an additional 60 shares during the period. Tyers Asset Management LLC bought a new stake in shares of ABIOMED during the fourth quarter valued at approximately $220,000. Cantab Capital Partners LLP increased its stake in shares of ABIOMED by 124.9% in the fourth quarter. Cantab Capital Partners LLP now owns 2,256 shares of the medical equipment provider’s stock valued at $254,000 after buying an additional 1,253 shares during the period. Finally, Pacad Investment Ltd. bought a new stake in shares of ABIOMED during the fourth quarter valued at approximately $372,000. 91.34% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

ABIOMED, Inc. (ABMD) traded up 0.74% on Wednesday, reaching $145.53. The company had a trading volume of 37,761 shares. The stock’s 50-day moving average price is $137.13 and its 200-day moving average price is $122.78. ABIOMED, Inc. has a 12-month low of $95.14 and a 12-month high of $147.45. The stock has a market capitalization of $6.34 billion, a P/E ratio of 124.38 and a beta of 0.25.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, May 4th. The medical equipment provider reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. The company had revenue of $124.68 million during the quarter, compared to the consensus estimate of $122.82 million. ABIOMED had a return on equity of 12.67% and a net margin of 11.70%. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 EPS. On average, equities research analysts anticipate that ABIOMED, Inc. will post $1.84 EPS for the current fiscal year.

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ABMD has been the topic of a number of recent analyst reports. Piper Jaffray Companies upgraded shares of ABIOMED from a “neutral” rating to an “overweight” rating and set a $145.00 target price on the stock in a report on Thursday, April 6th. Leerink Swann boosted their target price on shares of ABIOMED from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 30th. William Blair restated an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. Finally, TheStreet upgraded shares of ABIOMED from a “c+” rating to a “b-” rating in a report on Tuesday, February 21st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $151.00.

In other news, VP Michael G. Howley sold 18,279 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $133.56, for a total transaction of $2,441,343.24. Following the completion of the transaction, the vice president now owns 62,105 shares in the company, valued at approximately $8,294,743.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael G. Howley sold 600 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $132.84, for a total value of $79,704.00. Following the transaction, the vice president now owns 48,305 shares of the company’s stock, valued at approximately $6,416,836.20. The disclosure for this sale can be found here. Insiders have sold a total of 53,629 shares of company stock valued at $7,072,580 in the last quarter. 10.00% of the stock is owned by corporate insiders.

About ABIOMED

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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