Public Employees Retirement Association of Colorado increased its stake in Abiomed Inc. (NASDAQ:ABMD) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,106 shares of the company’s stock after buying an additional 786 shares during the period. Public Employees Retirement Association of Colorado owned about 0.45% of Abiomed worth $20,777,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. Cypress Capital Management LLC WY bought a new stake in shares of Abiomed during the second quarter valued at approximately $106,000. Bessemer Group Inc. increased its position in 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 during the period. Affinity Wealth Management purchased a new position in Abiomed during the first quarter valued at about $200,000. Miles Capital Inc. purchased a new position in Abiomed during the first quarter valued at about $253,000. Finally, LS Investment Advisors LLC increased its position in 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 during the period. Institutional investors own 93.65% of the company’s stock.
Abiomed Inc. (NASDAQ:ABMD) traded down 3.839% on Tuesday, hitting $126.682. 200,767 shares of the stock were exchanged. The company has a market cap of $5.42 billion, a PE ratio of 134.768 and a beta of 0.75. The company’s 50-day moving average is $123.02 and its 200-day moving average is $109.97. Abiomed Inc. has a 52 week low of $67.81 and a 52 week high of $132.95.
Abiomed (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.06. Abiomed had a return on equity of 11.86% and a net margin of 11.75%. The company earned $103 million during the quarter, compared to analysts’ expectations of $97.23 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, analysts predict that Abiomed Inc. will post $1.17 earnings per share for the current year.
Several research analysts have recently issued reports on ABMD shares. Zacks Investment Research downgraded Abiomed from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Jefferies Group lifted their price target on Abiomed from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $125.00 price target on shares of Abiomed in a research note on Wednesday, September 28th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $116.59.
In related news, Director Dorothy E. Puhy sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $122.31, for a total transaction of $477,009.00. Following the completion of the transaction, the director now owns 33,811 shares of the company’s stock, valued at $4,135,423.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael R. Minogue sold 28,039 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $127.07, for a total value of $3,562,915.73. Following the transaction, the chief executive officer now directly owns 215,488 shares of the company’s stock, valued at approximately $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.