Bank of Nova Scotia purchased a new position in ABIOMED, Inc. (NASDAQ:ABMD) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,671 shares of the medical equipment provider’s stock, valued at approximately $1,911,000.
Several other large investors also recently made changes to their positions in ABMD. JPMorgan Chase & Co. lifted its position in shares of ABIOMED by 239.3% in the first quarter. JPMorgan Chase & Co. now owns 211,201 shares of the medical equipment provider’s stock worth $61,458,000 after buying an additional 148,950 shares during the last quarter. IBM Retirement Fund acquired a new stake in shares of ABIOMED in the first quarter worth about $263,000. Hsbc Holdings PLC lifted its position in shares of ABIOMED by 127.2% in the first quarter. Hsbc Holdings PLC now owns 3,871 shares of the medical equipment provider’s stock worth $1,126,000 after buying an additional 2,167 shares during the last quarter. Relaxing Retirement Coach acquired a new position in shares of ABIOMED during the 1st quarter worth about $291,000. Finally, Mutual Advisors LLC acquired a new position in shares of ABIOMED during the 1st quarter worth about $206,000. 86.21% of the stock is owned by institutional investors.
NASDAQ ABMD opened at $444.70 on Thursday. ABIOMED, Inc. has a twelve month low of $161.05 and a twelve month high of $454.00. The stock has a market cap of $18.83 billion, a P/E ratio of 181.51, a price-to-earnings-growth ratio of 4.49 and a beta of -0.07.
ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, July 26th. The medical equipment provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $1.15. ABIOMED had a return on equity of 18.91% and a net margin of 25.71%. The business had revenue of $180.01 million during the quarter, compared to analysts’ expectations of $173.87 million. During the same quarter in the previous year, the firm earned $0.82 EPS. The firm’s revenue was up 35.9% compared to the same quarter last year. analysts forecast that ABIOMED, Inc. will post 3.46 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on ABMD shares. BidaskClub cut ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. Piper Jaffray Companies boosted their price objective on ABIOMED from $360.00 to $480.00 and gave the stock an “overweight” rating in a research report on Friday, June 22nd. Zacks Investment Research cut ABIOMED from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, ValuEngine cut ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $374.88.
In other ABIOMED news, COO David M. Weber sold 19,282 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $356.77, for a total value of $6,879,239.14. Following the completion of the transaction, the chief operating officer now owns 167,124 shares of the company’s stock, valued at approximately $59,624,829.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael G. Howley sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $432.50, for a total value of $4,325,000.00. Following the completion of the transaction, the vice president now directly owns 48,954 shares of the company’s stock, valued at approximately $21,172,605. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,722 shares of company stock valued at $12,958,039. Insiders own 3.50% of the company’s stock.
ABIOMED Company Profile
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.
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