Congress Asset Management Co. MA Has $4.34 Million Stake in ABIOMED, Inc. (NASDAQ:ABMD)

Congress Asset Management Co. MA decreased its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 3.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 24,381 shares of the medical equipment provider’s stock after selling 784 shares during the period. Congress Asset Management Co. MA’s holdings in ABIOMED were worth $4,337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Executive Wealth Management LLC raised its position in ABIOMED by 100.0% during the 2nd quarter. Executive Wealth Management LLC now owns 100 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 50 shares during the last quarter. World Asset Management Inc raised its position in ABIOMED by 2.0% during the 2nd quarter. World Asset Management Inc now owns 2,922 shares of the medical equipment provider’s stock worth $761,000 after purchasing an additional 56 shares during the last quarter. Meridian Wealth Management LLC raised its position in ABIOMED by 53.6% during the 2nd quarter. Meridian Wealth Management LLC now owns 215 shares of the medical equipment provider’s stock worth $56,000 after purchasing an additional 75 shares during the last quarter. CIBC Asset Management Inc raised its position in ABIOMED by 2.1% during the 2nd quarter. CIBC Asset Management Inc now owns 4,093 shares of the medical equipment provider’s stock worth $1,066,000 after purchasing an additional 85 shares during the last quarter. Finally, Tyers Asset Management LLC raised its position in ABIOMED by 5.8% during the 2nd quarter. Tyers Asset Management LLC now owns 1,760 shares of the medical equipment provider’s stock worth $458,000 after purchasing an additional 96 shares during the last quarter. 91.19% of the stock is currently owned by institutional investors.

ABMD stock opened at $214.61 on Thursday. The stock has a 50-day moving average price of $182.24 and a 200-day moving average price of $226.29. ABIOMED, Inc. has a 1-year low of $155.02 and a 1-year high of $427.70. The firm has a market cap of $9.95 billion, a PE ratio of 54.16, a price-to-earnings-growth ratio of 1.93 and a beta of 0.37.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings data on Thursday, October 31st. The medical equipment provider reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.10. ABIOMED had a return on equity of 19.89% and a net margin of 26.92%. The firm had revenue of $204.97 million during the quarter, compared to analyst estimates of $206.45 million. During the same period last year, the company posted $1.09 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. On average, equities analysts forecast that ABIOMED, Inc. will post 4.32 earnings per share for the current year.

Several research analysts recently issued reports on ABMD shares. Raymond James lowered ABIOMED from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 29th. BidaskClub raised ABIOMED from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 15th. TheStreet lowered ABIOMED from a “b-” rating to a “c+” rating in a research report on Thursday, August 22nd. Leerink Swann raised their target price on ABIOMED from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, ValuEngine raised ABIOMED from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $301.20.

ABIOMED 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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Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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