First Allied Advisory Services Inc. Lowers Position in ABIOMED, Inc. (ABMD)

First Allied Advisory Services Inc. trimmed its holdings in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 23.7% in the first quarter, HoldingsChannel reports. The firm owned 974 shares of the medical equipment provider’s stock after selling 303 shares during the quarter. First Allied Advisory Services Inc.’s holdings in ABIOMED were worth $282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc increased its stake in ABIOMED by 5.9% during the 3rd quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock worth $2,090,091,000 after purchasing an additional 260,829 shares in the last quarter. BlackRock Inc. boosted its position in ABIOMED by 1.5% during the 4th quarter. BlackRock Inc. now owns 3,165,242 shares of the medical equipment provider’s stock worth $1,028,829,000 after acquiring an additional 47,673 shares during the last quarter. Baillie Gifford & Co. boosted its position in ABIOMED by 1.2% during the 1st quarter. Baillie Gifford & Co. now owns 1,081,431 shares of the medical equipment provider’s stock worth $308,846,000 after acquiring an additional 12,572 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd boosted its position in ABIOMED by 0.5% during the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 642,283 shares of the medical equipment provider’s stock worth $208,767,000 after acquiring an additional 3,427 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in ABIOMED by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 606,848 shares of the medical equipment provider’s stock worth $196,924,000 after acquiring an additional 32,418 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on the company. Zacks Investment Research raised ABIOMED from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. BTIG Research reaffirmed a “buy” rating on shares of ABIOMED in a research report on Tuesday, May 7th. BidaskClub downgraded ABIOMED from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 13th. ValuEngine downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $340.00 price target on shares of ABIOMED in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. ABIOMED presently has a consensus rating of “Hold” and an average target price of $408.67.

NASDAQ:ABMD opened at $270.39 on Friday. ABIOMED, Inc. has a twelve month low of $228.00 and a twelve month high of $459.75. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 75.11, a PEG ratio of 2.03 and a beta of 0.29.

ABIOMED (NASDAQ:ABMD) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.53. ABIOMED had a return on equity of 20.32% and a net margin of 33.66%. The firm had revenue of $207.08 million during the quarter, compared to the consensus estimate of $218.88 million. During the same quarter in the prior year, the firm posted $0.80 EPS. The business’s revenue was up 18.7% on a year-over-year basis. Sell-side analysts expect that ABIOMED, Inc. will post 4.57 earnings per share for the current year.

In other news, Director Martin P. Sutter sold 4,664 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $259.97, for a total value of $1,212,500.08. Following the completion of the sale, the director now owns 192,550 shares of the company’s stock, valued at approximately $50,057,223.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.50% of the company’s stock.

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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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