Abiomed, Inc. (NASDAQ:ABMD) Director Martin P. Sutter Sells 1,500 Shares

Abiomed, Inc. (NASDAQ:ABMD) Director Martin P. Sutter sold 1,500 shares of the company’s stock in a transaction on Wednesday, November 18th. The stock was sold at an average price of $268.94, for a total transaction of $403,410.00. Following the sale, the director now directly owns 184,760 shares of the company’s stock, valued at approximately $49,689,354.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Abiomed stock opened at $268.21 on Friday. The firm has a market capitalization of $12.12 billion, a P/E ratio of 58.95, a P/E/G ratio of 3.18 and a beta of 1.42. The firm’s 50 day moving average is $272.01 and its two-hundred day moving average is $264.32. Abiomed, Inc. has a 52 week low of $119.01 and a 52 week high of $319.19.

Abiomed (NASDAQ:ABMD) last announced its earnings results on Tuesday, November 3rd. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.49. The business had revenue of $209.80 million for the quarter, compared to analyst estimates of $202.89 million. Abiomed had a net margin of 25.89% and a return on equity of 15.34%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. As a group, sell-side analysts predict that Abiomed, Inc. will post 4.08 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Independent Advisor Alliance acquired a new stake in shares of Abiomed during the third quarter worth $3,261,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Abiomed by 865.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,952 shares of the medical equipment provider’s stock worth $4,143,000 after purchasing an additional 13,403 shares during the period. New Mexico Educational Retirement Board lifted its holdings in shares of Abiomed by 14.8% during the third quarter. New Mexico Educational Retirement Board now owns 3,500 shares of the medical equipment provider’s stock worth $623,000 after purchasing an additional 450 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Abiomed by 1.7% during the second quarter. CIBC Asset Management Inc now owns 3,871 shares of the medical equipment provider’s stock worth $935,000 after purchasing an additional 64 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of Abiomed by 15.6% during the second quarter. Raymond James & Associates now owns 5,714 shares of the medical equipment provider’s stock worth $1,380,000 after purchasing an additional 773 shares during the period. 85.96% of the stock is owned by hedge funds and other institutional investors.

ABMD has been the subject of a number of analyst reports. SVB Leerink dropped their price objective on shares of Abiomed from $335.00 to $280.00 and set a “market perform” rating for the company in a report on Monday, October 12th. Morgan Stanley upped their price objective on shares of Abiomed from $152.00 to $217.00 and gave the company an “underweight” rating in a report on Friday, August 7th. Finally, BidaskClub lowered shares of Abiomed from a “buy” rating to a “hold” rating in a report on Tuesday, August 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Abiomed currently has a consensus rating of “Hold” and an average target price of $210.40.

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 a 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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