Cigna Investments Inc. New Invests $378,000 in ABIOMED, Inc. (NASDAQ:ABMD)

Cigna Investments Inc. New acquired a new stake in ABIOMED, Inc. (NASDAQ:ABMD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,559 shares of the medical equipment provider’s stock, valued at approximately $378,000.

Other large investors have also recently modified their holdings of the company. Wealthfront Advisers LLC purchased a new position in shares of ABIOMED in the 2nd quarter valued at $1,479,000. Captrust Financial Advisors acquired a new stake in ABIOMED in the 2nd quarter valued at $164,000. Man Group plc raised its position in ABIOMED by 121.0% in the second quarter. Man Group plc now owns 18,869 shares of the medical equipment provider’s stock valued at $4,558,000 after purchasing an additional 10,330 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of ABIOMED during the second quarter worth about $2,260,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of ABIOMED in the second quarter worth about $443,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Several equities analysts recently commented on the company. Morgan Stanley boosted their price target on ABIOMED from $152.00 to $217.00 and gave the stock an “underweight” rating in a research report on Friday, August 7th. BTIG Research cut shares of ABIOMED to a “hold” rating in a research report on Wednesday, May 27th. SVB Leerink upped their target price on shares of ABIOMED from $280.00 to $335.00 and gave the company a “market perform” rating in a research note on Friday, August 7th. OTR Global raised shares of ABIOMED to a “positive” rating in a research note on Monday, July 13th. Finally, BidaskClub lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, August 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $221.40.

In other ABIOMED news, CEO Michael R. Minogue sold 100,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $309.12, for a total transaction of $30,912,000.00. Also, Director Martin P. Sutter sold 750 shares of ABIOMED stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $311.99, for a total value of $233,992.50. Following the completion of the transaction, the director now owns 187,760 shares of the company’s stock, valued at approximately $58,579,242.40. The disclosure for this sale can be found here. Insiders sold a total of 110,250 shares of company stock valued at $33,815,313 in the last three months. Insiders own 3.40% of the company’s stock.

ABIOMED stock opened at $279.16 on Wednesday. ABIOMED, Inc. has a 52 week low of $119.01 and a 52 week high of $319.19. The stock has a market cap of $12.42 billion, a P/E ratio of 80.45, a price-to-earnings-growth ratio of 3.49 and a beta of 1.14. The stock has a 50 day moving average of $298.46 and a 200-day moving average of $225.69.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.38. The firm had revenue of $164.90 million for the quarter, compared to analysts’ expectations of $144.12 million. ABIOMED had a net margin of 19.88% and a return on equity of 16.17%. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. Equities analysts forecast that ABIOMED, Inc. will post 3.85 EPS for the current year.

ABIOMED 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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Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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