ABIOMED, Inc. (NASDAQ:ABMD) Short Interest Up 35.7% in October

ABIOMED, Inc. (NASDAQ:ABMD) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 2,890,000 shares, an increase of 35.7% from the September 15th total of 2,130,000 shares. Approximately 6.5% of the company’s stock are sold short. Based on an average trading volume of 651,000 shares, the days-to-cover ratio is currently 4.4 days.

A number of equities analysts have weighed in on ABMD shares. William Blair reaffirmed a “buy” rating on shares of ABIOMED in a research report on Monday, September 30th. Guggenheim downgraded ABIOMED from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. ValuEngine raised ABIOMED from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. TheStreet downgraded ABIOMED from a “b-” rating to a “c+” rating in a report on Thursday, August 22nd. Finally, BTIG Research downgraded ABIOMED from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $316.50.

Shares of NASDAQ ABMD traded up $1.71 during trading hours on Monday, hitting $184.05. The company had a trading volume of 29,720 shares, compared to its average volume of 639,289. The stock has a market capitalization of $8.17 billion, a P/E ratio of 51.13, a price-to-earnings-growth ratio of 1.56 and a beta of 0.41. ABIOMED has a 1-year low of $155.02 and a 1-year high of $427.70. The firm’s 50 day moving average is $179.16 and its 200-day moving average is $230.47.

ABIOMED (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.99 by $0.01. The company had revenue of $207.70 million during the quarter, compared to the consensus estimate of $210.96 million. ABIOMED had a return on equity of 19.84% and a net margin of 32.35%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.95 EPS. Equities research analysts expect that ABIOMED will post 4.27 EPS for the current year.

In other ABIOMED news, COO David M. Weber sold 8,095 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.26, for a total transaction of $1,669,674.70. Following the completion of the transaction, the chief operating officer now owns 132,913 shares of the company’s stock, valued at approximately $27,414,635.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in ABIOMED by 9.4% in the 2nd quarter. BlackRock Inc. now owns 3,389,676 shares of the medical equipment provider’s stock valued at $882,977,000 after acquiring an additional 290,358 shares during the period. Renaissance Technologies LLC raised its stake in ABIOMED by 18.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,431,723 shares of the medical equipment provider’s stock valued at $633,440,000 after acquiring an additional 370,800 shares during the period. Baillie Gifford & Co. raised its stake in ABIOMED by 105.2% in the 2nd quarter. Baillie Gifford & Co. now owns 2,219,136 shares of the medical equipment provider’s stock valued at $578,063,000 after acquiring an additional 1,137,705 shares during the period. Brown Capital Management LLC raised its stake in ABIOMED by 10.2% in the 2nd quarter. Brown Capital Management LLC now owns 1,358,476 shares of the medical equipment provider’s stock valued at $353,869,000 after acquiring an additional 125,857 shares during the period. Finally, William Blair Investment Management LLC raised its stake in ABIOMED by 338.3% in the 2nd quarter. William Blair Investment Management LLC now owns 815,524 shares of the medical equipment provider’s stock valued at $212,436,000 after acquiring an additional 629,455 shares during the period. 90.96% of the stock is owned by institutional investors.

About ABIOMED

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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