Newfound Research LLC raised its position in Abiomed, Inc. (NASDAQ:ABMD) by 46.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 217 shares of the medical equipment provider’s stock after acquiring an additional 69 shares during the quarter. Newfound Research LLC’s holdings in Abiomed were worth $69,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Retirement Systems of Alabama lifted its stake in Abiomed by 12.0% in the fourth quarter. Retirement Systems of Alabama now owns 43,742 shares of the medical equipment provider’s stock valued at $14,181,000 after acquiring an additional 4,703 shares during the last quarter. EFG Asset Management Americas Corp. lifted its stake in shares of Abiomed by 9.7% during the 1st quarter. EFG Asset Management Americas Corp. now owns 883 shares of the medical equipment provider’s stock worth $281,000 after buying an additional 78 shares during the last quarter. Barclays PLC lifted its stake in shares of Abiomed by 58.8% during the 4th quarter. Barclays PLC now owns 41,174 shares of the medical equipment provider’s stock worth $13,349,000 after buying an additional 15,251 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Abiomed during the 4th quarter worth about $391,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Abiomed during the 4th quarter worth about $1,352,000. Hedge funds and other institutional investors own 93.95% of the company’s stock.
Shares of Abiomed stock traded down $1.34 during midday trading on Tuesday, hitting $307.30. 3,285 shares of the company traded hands, compared to its average volume of 314,699. The stock has a market cap of $13.90 billion, a price-to-earnings ratio of 67.83, a PEG ratio of 4.15 and a beta of 1.41. The firm’s fifty day moving average price is $321.18 and its 200-day moving average price is $305.81. Abiomed, Inc. has a 12 month low of $177.69 and a 12 month high of $387.40.
A number of research firms have recently issued reports on ABMD. TheStreet upgraded shares of Abiomed from a “c+” rating to a “b-” rating in a research note on Friday, January 15th. Piper Sandler lifted their price objective on shares of Abiomed from $350.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, January 28th. Morgan Stanley lifted their price objective on shares of Abiomed from $238.00 to $245.00 and gave the stock an “underweight” rating in a research note on Friday, January 29th. Finally, SVB Leerink lifted their price objective on shares of Abiomed from $320.00 to $375.00 and gave the stock a “market perform” rating in a research note on Friday, January 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $348.33.
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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