State Board of Administration of Florida Retirement System lessened its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 59,212 shares of the medical equipment provider’s stock after selling 632 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in ABIOMED were worth $26,631,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in ABIOMED by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 183,416 shares of the medical equipment provider’s stock valued at $53,372,000 after buying an additional 5,158 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in ABIOMED in the 2nd quarter valued at about $765,000. CENTRAL TRUST Co boosted its position in ABIOMED by 35.5% in the 2nd quarter. CENTRAL TRUST Co now owns 3,425 shares of the medical equipment provider’s stock valued at $1,401,000 after buying an additional 898 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in ABIOMED in the 2nd quarter valued at about $245,000. Finally, State of Alaska Department of Revenue boosted its position in ABIOMED by 82.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,880 shares of the medical equipment provider’s stock valued at $2,813,000 after buying an additional 3,100 shares during the last quarter. Institutional investors own 87.14% of the company’s stock.
ABMD opened at $412.10 on Thursday. The stock has a market cap of $17.50 billion, a P/E ratio of 168.20, a price-to-earnings-growth ratio of 3.18 and a beta of 0.35. ABIOMED, Inc. has a fifty-two week low of $186.72 and a fifty-two week high of $459.75.
A number of equities research analysts have recently issued reports on ABMD shares. Morgan Stanley upped their target price on shares of ABIOMED from $370.00 to $396.00 and gave the company an “equal weight” rating in a research note on Thursday, October 11th. BidaskClub lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. BTIG Research upgraded shares of ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Friday, November 2nd. ValuEngine lowered shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 18th. Finally, Zacks Investment Research lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $402.78.
In other ABIOMED news, VP Michael G. Howley sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $432.50, for a total value of $4,325,000.00. Following the sale, the vice president now owns 48,954 shares in the company, valued at $21,172,605. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew J. Greenfield sold 4,440 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $395.00, for a total transaction of $1,753,800.00. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.
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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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