ABIOMED, Inc. (ABMD) Stake Decreased by LPL Financial LLC

LPL Financial LLC trimmed its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 7.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 11,980 shares of the medical equipment provider’s stock after selling 962 shares during the quarter. LPL Financial LLC’s holdings in ABIOMED were worth $3,474,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in shares of ABIOMED by 21.2% during the 4th quarter. Franklin Resources Inc. now owns 328,717 shares of the medical equipment provider’s stock valued at $61,619,000 after acquiring an additional 57,560 shares during the period. Maverick Capital Ltd. bought a new stake in shares of ABIOMED during the 4th quarter valued at $6,106,000. Two Sigma Advisers LP lifted its position in shares of ABIOMED by 7.5% during the 4th quarter. Two Sigma Advisers LP now owns 11,430 shares of the medical equipment provider’s stock valued at $2,142,000 after acquiring an additional 800 shares during the period. AMP Capital Investors Ltd lifted its position in shares of ABIOMED by 247.7% during the 4th quarter. AMP Capital Investors Ltd now owns 15,299 shares of the medical equipment provider’s stock valued at $2,866,000 after acquiring an additional 10,899 shares during the period. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of ABIOMED during the 4th quarter valued at $683,000. Hedge funds and other institutional investors own 87.01% of the company’s stock.

In other news, Chairman Michael R. Minogue sold 105,000 shares of the business’s stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $439.69, for a total transaction of $46,167,450.00. Following the completion of the transaction, the chairman now owns 481,150 shares of the company’s stock, valued at approximately $211,556,843.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO David M. Weber sold 46,500 shares of the business’s stock in a transaction on Monday, June 18th. The stock was sold at an average price of $442.63, for a total value of $20,582,295.00. Following the transaction, the chief operating officer now directly owns 189,657 shares of the company’s stock, valued at approximately $83,947,877.91. The disclosure for this sale can be found here. Insiders have sold a total of 213,680 shares of company stock valued at $88,292,489 in the last three months. 7.00% of the stock is owned by insiders.

ABIOMED stock opened at $413.94 on Friday. ABIOMED, Inc. has a 52 week low of $139.49 and a 52 week high of $450.93. The firm has a market cap of $18.33 billion, a PE ratio of 168.96, a price-to-earnings-growth ratio of 4.35 and a beta of 0.21.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, May 3rd. The medical equipment provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. ABIOMED had a return on equity of 17.58% and a net margin of 18.89%. The company had revenue of $174.44 million during the quarter, compared to analysts’ expectations of $164.30 million. During the same quarter in the previous year, the firm earned $0.33 EPS. ABIOMED’s revenue was up 39.9% on a year-over-year basis. research analysts expect that ABIOMED, Inc. will post 3.5 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on ABMD. Piper Jaffray Companies upped their target price on ABIOMED to $360.00 and gave the company an “overweight” rating in a research report on Thursday, May 3rd. BidaskClub downgraded ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. ValuEngine upgraded ABIOMED from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 3rd. Finally, Morgan Stanley upped their target price on ABIOMED from $259.00 to $320.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 1st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $360.00.

About ABIOMED

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.

Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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