William Blair Investment Management LLC increased its holdings in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 45.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 186,069 shares of the medical equipment provider’s stock after buying an additional 58,242 shares during the quarter. William Blair Investment Management LLC owned 0.41% of ABIOMED worth $53,139,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in ABIOMED in the fourth quarter valued at about $158,786,000. Baillie Gifford & Co. increased its stake in shares of ABIOMED by 32.8% in the fourth quarter. Baillie Gifford & Co. now owns 1,068,859 shares of the medical equipment provider’s stock valued at $347,422,000 after buying an additional 264,252 shares during the period. Vanguard Group Inc increased its stake in shares of ABIOMED by 5.9% in the third quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock valued at $2,090,091,000 after buying an additional 260,829 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of ABIOMED by 330.0% in the first quarter. Artisan Partners Limited Partnership now owns 334,891 shares of the medical equipment provider’s stock valued at $95,642,000 after buying an additional 257,009 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of ABIOMED by 74.2% in the fourth quarter. 1832 Asset Management L.P. now owns 333,300 shares of the medical equipment provider’s stock valued at $106,483,000 after buying an additional 141,927 shares during the period. Institutional investors and hedge funds own 87.09% of the company’s stock.
In other ABIOMED news, Director Martin P. Sutter sold 4,664 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $259.97, for a total value of $1,212,500.08. Following the completion of the sale, the director now owns 192,550 shares of the company’s stock, valued at $50,057,223.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.50% of the company’s stock.
ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.53. ABIOMED had a return on equity of 20.32% and a net margin of 33.66%. The firm had revenue of $207.08 million during the quarter, compared to analysts’ expectations of $218.88 million. During the same quarter last year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, equities research analysts predict that ABIOMED, Inc. will post 4.5 earnings per share for the current year.
Several equities research analysts have recently weighed in on ABMD shares. Zacks Investment Research raised ABIOMED from a “hold” rating to a “buy” rating and set a $311.00 price target for the company in a research note on Tuesday, April 2nd. ValuEngine cut ABIOMED from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. BidaskClub cut ABIOMED from a “hold” rating to a “sell” rating in a research note on Monday, June 17th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $340.00 target price on shares of ABIOMED in a research note on Friday, May 3rd. Three analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $378.00.
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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