ABIOMED, Inc. (NASDAQ:ABMD) Short Interest Down 5.5% in June

ABIOMED, Inc. (NASDAQ:ABMD) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 2,381,700 shares, a decline of 5.5% from the May 15th total of 2,519,200 shares. Approximately 5.4% of the shares of the company are short sold. Based on an average daily trading volume, of 819,000 shares, the days-to-cover ratio is currently 2.9 days.

Several equities research analysts have recently weighed in on ABMD shares. ValuEngine lowered shares of Whiting USA Trust II from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. SunTrust Banks increased their price objective on shares of Paylocity to $108.00 and gave the stock a “positive” rating in a report on Friday, May 3rd. Zacks Investment Research lowered shares of Haynes International from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. BTIG Research reissued a “buy” rating on shares of ABIOMED in a report on Tuesday, May 7th. Finally, BidaskClub raised shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a report on Thursday. Three analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $378.00.

ABIOMED stock traded down $2.30 during trading hours on Friday, reaching $260.47. 255,188 shares of the company’s stock traded hands, compared to its average volume of 399,614. ABIOMED has a fifty-two week low of $228.00 and a fifty-two week high of $459.75. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 72.35, a price-to-earnings-growth ratio of 2.08 and a beta of 0.32. The business’s 50 day moving average price is $260.35.

ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.53. The business had revenue of $207.08 million for the quarter, compared to the consensus estimate of $218.88 million. ABIOMED had a net margin of 33.66% and a return on equity of 20.32%. ABIOMED’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. As a group, sell-side analysts expect that ABIOMED will post 4.48 earnings per share for the current fiscal year.

In other news, Director Martin P. Sutter sold 4,664 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $259.97, for a total value of $1,212,500.08. Following the sale, the director now owns 192,550 shares of the company’s stock, valued at approximately $50,057,223.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Sontag Advisory LLC bought a new position in shares of ABIOMED during the 4th quarter worth approximately $25,000. Bremer Bank National Association bought a new position in shares of ABIOMED in the first quarter valued at $27,000. Sterling Investment Advisors Ltd. grew its stake in shares of ABIOMED by 233.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 100 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 70 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of ABIOMED by 1,187.5% in the fourth quarter. Captrust Financial Advisors now owns 103 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 95 shares in the last quarter. Finally, Tompkins Financial Corp bought a new position in shares of ABIOMED in the second quarter valued at $39,000. Hedge funds and other institutional investors own 86.79% of the company’s stock.

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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