Retirement Systems of Alabama cut its stake in Abiomed Inc. (NASDAQ:ABMD) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 50,716 shares of the company’s stock after selling 252 shares during the period. Retirement Systems of Alabama’s holdings in Abiomed were worth $5,543,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ABMD. State Street Corp boosted its position in shares of Abiomed by 56.3% in the first quarter. State Street Corp now owns 1,316,168 shares of the company’s stock valued at $124,787,000 after buying an additional 474,209 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Abiomed by 17.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,137,738 shares of the company’s stock valued at $107,869,000 after buying an additional 167,040 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Abiomed during the first quarter valued at approximately $121,655,000. Granahan Investment Management Inc. MA boosted its position in shares of Abiomed by 11.6% in the first quarter. Granahan Investment Management Inc. MA now owns 322,383 shares of the company’s stock valued at $30,565,000 after buying an additional 33,400 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Abiomed by 152.5% in the first quarter. Renaissance Technologies LLC now owns 287,100 shares of the company’s stock valued at $27,220,000 after buying an additional 173,400 shares during the last quarter. Institutional investors own 93.65% of the company’s stock.
Shares of Abiomed Inc. (NASDAQ:ABMD) traded up 0.29% during trading on Thursday, reaching $127.71. 177,656 shares of the company traded hands. The stock’s 50 day moving average price is $123.39 and its 200-day moving average price is $110.22. Abiomed Inc. has a 12 month low of $67.81 and a 12 month high of $132.95. The stock has a market cap of $5.47 billion, a P/E ratio of 135.86 and a beta of 0.75.
Abiomed (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The company earned $103 million during the quarter, compared to analysts’ expectations of $97.23 million. Abiomed had a return on equity of 11.86% and a net margin of 11.75%. Abiomed’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. On average, equities research analysts expect that Abiomed Inc. will post $1.17 EPS for the current fiscal year.
Several analysts recently commented on ABMD shares. Zacks Investment Research cut shares of Abiomed from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Jefferies Group raised their price target on shares of Abiomed from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Finally, Leerink Swann restated an “outperform” rating and set a $125.00 price target on shares of Abiomed in a report on Wednesday, September 28th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $116.59.
In related news, CEO Michael R. Minogue sold 28,039 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $127.07, for a total value of $3,562,915.73. Following the completion of the transaction, the chief executive officer now directly owns 215,488 shares in the company, valued at approximately $27,382,060.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dorothy E. Puhy sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $122.31, for a total value 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 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.