Sectoral Asset Management Inc Reduces Position in ABIOMED, Inc. (ABMD)

Sectoral Asset Management Inc decreased its holdings in ABIOMED, Inc. (NASDAQ:ABMD) by 43.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,671 shares of the medical equipment provider’s stock after selling 100,601 shares during the quarter. ABIOMED accounts for about 2.8% of Sectoral Asset Management Inc’s investment portfolio, making the stock its 12th largest position. Sectoral Asset Management Inc owned approximately 0.29% of ABIOMED worth $21,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lord Abbett & CO. LLC boosted its holdings in shares of ABIOMED by 282.5% in the second quarter. Lord Abbett & CO. LLC now owns 60,882 shares of the medical equipment provider’s stock worth $8,724,000 after buying an additional 44,967 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of ABIOMED by 16.2% in the second quarter. Eagle Asset Management Inc. now owns 227,467 shares of the medical equipment provider’s stock worth $32,596,000 after buying an additional 31,690 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of ABIOMED by 21.7% in the second quarter. Victory Capital Management Inc. now owns 9,761 shares of the medical equipment provider’s stock worth $1,399,000 after buying an additional 1,738 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of ABIOMED by 45.3% in the second quarter. BNP Paribas Arbitrage SA now owns 16,206 shares of the medical equipment provider’s stock worth $2,322,000 after buying an additional 5,055 shares during the last quarter. Finally, State of Tennessee Treasury Department purchased a new position in shares of ABIOMED in the third quarter worth approximately $5,058,000. 90.75% of the stock is currently owned by institutional investors.

A number of research firms recently issued reports on ABMD. BidaskClub raised shares of ABIOMED from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Jefferies Group raised their target price on shares of ABIOMED from $175.00 to $208.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. SunTrust Banks restated a “buy” rating and set a $195.00 target price on shares of ABIOMED in a research note on Wednesday, November 1st. BTIG Research restated a “hold” rating on shares of ABIOMED in a research note on Sunday, October 29th. Finally, Zacks Investment Research upgraded shares of ABIOMED from a “sell” rating to a “buy” rating and set a $203.00 target price on the stock in a research note on Monday, October 30th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $190.43.

Shares of ABIOMED, Inc. (NASDAQ ABMD) opened at $187.91 on Friday. ABIOMED, Inc. has a one year low of $103.53 and a one year high of $200.28. The company has a market cap of $8,268.42, a P/E ratio of 119.87, a price-to-earnings-growth ratio of 2.49 and a beta of 0.15. The company has a current ratio of 5.84, a quick ratio of 5.20 and a debt-to-equity ratio of 0.02.

ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.16. The company had revenue of $132.80 million for the quarter, compared to analysts’ expectations of $131.18 million. ABIOMED had a net margin of 18.27% and a return on equity of 13.89%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 EPS. equities analysts forecast that ABIOMED, Inc. will post 2.38 earnings per share for the current year.

In other news, Director Dorothy E. Puhy sold 6,364 shares of ABIOMED stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $179.08, for a total transaction of $1,139,665.12. Following the sale, the director now owns 39,532 shares in the company, valued at $7,079,390.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Andrew J. Greenfield sold 11,282 shares of ABIOMED stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $169.32, for a total transaction of $1,910,268.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,646 shares of company stock worth $4,836,333. Company insiders own 7.00% of the company’s stock.

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About ABIOMED

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.

Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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