Elkfork Partners LLC boosted its holdings in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 5.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,420 shares of the medical equipment provider’s stock after buying an additional 132 shares during the period. Elkfork Partners LLC’s holdings in ABIOMED were worth $630,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ABMD. Executive Wealth Management LLC grew its stake in shares of ABIOMED by 100.0% in the 2nd quarter. Executive Wealth Management LLC now owns 100 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Bremer Bank National Association bought a new position in ABIOMED during the first quarter valued at about $27,000. Tompkins Financial Corp bought a new position in ABIOMED during the second quarter valued at about $39,000. Meridian Wealth Management LLC bought a new position in ABIOMED during the first quarter valued at about $40,000. Finally, Cornerstone Advisors Inc. grew its position in ABIOMED by 94.1% during the first quarter. Cornerstone Advisors Inc. now owns 165 shares of the medical equipment provider’s stock valued at $47,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 91.10% of the company’s stock.
In related news, COO David M. Weber sold 8,095 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.26, for a total value of $1,669,674.70. Following the sale, the chief operating officer now directly owns 132,913 shares of the company’s stock, valued at $27,414,635.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.40% of the company’s stock.
Shares of ABIOMED stock opened at $175.89 on Friday. The company’s 50-day moving average price is $189.86 and its 200-day moving average price is $249.56. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 48.86, a PEG ratio of 1.61 and a beta of 0.45. ABIOMED, Inc. has a 12-month low of $174.44 and a 12-month high of $459.75.
ABIOMED (NASDAQ:ABMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. The business had revenue of $207.70 million for the quarter, compared to the consensus estimate of $210.96 million. ABIOMED had a net margin of 32.35% and a return on equity of 19.84%. ABIOMED’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the firm posted $1.95 earnings per share. As a group, equities research analysts expect that ABIOMED, Inc. will post 4.28 EPS for the current year.
Several equities analysts recently weighed in on the stock. Morgan Stanley lowered shares of ABIOMED from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $325.00 to $215.00 in a research report on Thursday, August 1st. TheStreet lowered shares of ABIOMED from a “b-” rating to a “c+” rating in a research report on Thursday, August 22nd. BidaskClub lowered shares of ABIOMED from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 31st. Guggenheim lowered shares of ABIOMED from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Finally, BTIG Research lowered shares of ABIOMED from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $316.50.
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.
See Also: Diluted Earnings Per Share
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