Trade Report: Today, Northwestern Mutual Investment Management Company LLC Sold shares of Abiomed Inc. (ABMD)

Today, Northwestern Mutual Investment Management Company LLC Sold shares of Abiomed Inc. (ABMD)

Northwestern Mutual Investment Management Company LLC cut its position in Abiomed Inc. (NASDAQ:ABMD) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,787 shares of the company’s stock after selling 13 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Abiomed were worth $742,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mason Street Advisors LLC bought a new position in shares of Abiomed during the second quarter worth approximately $1,960,000. Royal Bank of Canada raised its position in shares of Abiomed by 0.5% in the second quarter. Royal Bank of Canada now owns 569,258 shares of the company’s stock worth $62,214,000 after buying an additional 2,817 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Abiomed by 109.8% in the second quarter. Public Employees Retirement System of Ohio now owns 79,296 shares of the company’s stock worth $8,666,000 after buying an additional 41,496 shares during the last quarter. Calvert Investment Management Inc. raised its position in shares of Abiomed by 0.9% in the second quarter. Calvert Investment Management Inc. now owns 2,242 shares of the company’s stock worth $245,000 after buying an additional 20 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Abiomed by 51.4% in the second quarter. Amalgamated Bank now owns 6,925 shares of the company’s stock worth $859,000 after buying an additional 2,352 shares during the last quarter. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Abiomed Inc. (NASDAQ:ABMD) traded up 0.73% during midday trading on Friday, reaching $113.67. 92,319 shares of the company’s stock traded hands. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 117.19 and a beta of 0.42. The company has a 50-day moving average of $115.62 and a 200-day moving average of $113.86. Abiomed Inc. has a one year low of $67.81 and a one year high of $132.95.

Abiomed (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by $0.04. Abiomed had a net margin of 11.24% and a return on equity of 11.63%. The firm had revenue of $103 million for the quarter, compared to analysts’ expectations of $103.16 million. During the same period in the prior year, the firm earned $0.17 EPS. Abiomed’s revenue for the quarter was up 35.0% compared to the same quarter last year. Equities research analysts anticipate that Abiomed Inc. will post $1.13 EPS for the current year.

A number of brokerages have recently commented on ABMD. TheStreet lowered shares of Abiomed from a “buy” rating to a “hold” rating in a report on Thursday, October 27th. Zacks Investment Research raised shares of Abiomed from a “hold” rating to a “strong-buy” rating and set a $146.00 price target on the stock in a report on Wednesday, October 5th. Leerink Swann reissued an “outperform” rating and issued a $125.00 price target on shares of Abiomed in a report on Wednesday, September 28th. Finally, Jefferies Group increased 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. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Abiomed has an average rating of “Buy” and an average price target of $121.11.

In other news, CEO Michael R. Minogue sold 28,039 shares of Abiomed stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $127.07, for a total transaction of $3,562,915.73. Following the sale, the chief executive officer now owns 215,488 shares in the company, valued at $27,382,060.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael R. Minogue sold 58,710 shares of Abiomed stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $127.00, for a total transaction of $7,456,170.00. Following the sale, the chief executive officer now owns 215,782 shares in the company, valued at approximately $27,404,314. The disclosure for this sale can be found here. Company insiders own 10.00% of the company’s stock.

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.

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