Oak Ridge Investments LLC Sells 23,760 Shares of ABIOMED, Inc. (ABMD)

Oak Ridge Investments LLC decreased its position in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 45.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,039 shares of the medical equipment provider’s stock after selling 23,760 shares during the period. Oak Ridge Investments LLC owned approximately 0.06% of ABIOMED worth $12,611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its position in shares of ABIOMED by 1.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 9,139 shares of the medical equipment provider’s stock worth $3,738,000 after purchasing an additional 146 shares during the period. World Asset Management Inc increased its position in shares of ABIOMED by 5.2% in the third quarter. World Asset Management Inc now owns 2,976 shares of the medical equipment provider’s stock worth $1,338,000 after purchasing an additional 146 shares during the period. CIBC Asset Management Inc increased its position in shares of ABIOMED by 4.0% in the third quarter. CIBC Asset Management Inc now owns 3,856 shares of the medical equipment provider’s stock worth $1,734,000 after purchasing an additional 150 shares during the period. Wealthsource Partners LLC increased its position in shares of ABIOMED by 24.6% in the second quarter. Wealthsource Partners LLC now owns 887 shares of the medical equipment provider’s stock worth $363,000 after purchasing an additional 175 shares during the period. Finally, Advisor Partners LLC increased its position in shares of ABIOMED by 26.4% in the second quarter. Advisor Partners LLC now owns 1,057 shares of the medical equipment provider’s stock worth $432,000 after purchasing an additional 221 shares during the period. Institutional investors own 87.11% of the company’s stock.

In other news, VP Michael G. Howley sold 10,000 shares of ABIOMED stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $432.50, for a total transaction of $4,325,000.00. Following the sale, the vice president now directly owns 48,954 shares of the company’s stock, valued at $21,172,605. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew J. Greenfield sold 4,440 shares of ABIOMED stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $395.00, for a total value of $1,753,800.00. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

ABMD has been the topic of a number of recent analyst reports. BidaskClub upgraded ABIOMED from a “hold” rating to a “buy” rating in a research report on Wednesday, September 5th. ValuEngine cut ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. BTIG Research upgraded ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 price target on the stock in a research report on Friday, November 2nd. Morgan Stanley raised their price target on ABIOMED from $370.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 11th. Finally, Zacks Investment Research cut ABIOMED from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. ABIOMED currently has an average rating of “Buy” and a consensus target price of $402.78.

ABIOMED stock opened at $337.86 on Tuesday. ABIOMED, Inc. has a 12-month low of $186.72 and a 12-month high of $459.75. The stock has a market capitalization of $18.25 billion, a price-to-earnings ratio of 137.90, a price-to-earnings-growth ratio of 3.31 and a beta of 0.35.

ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.36. ABIOMED had a return on equity of 20.09% and a net margin of 27.60%. The firm had revenue of $181.78 million for the quarter, compared to analysts’ expectations of $175.41 million. During the same quarter in the previous year, the business posted $0.54 earnings per share. The business’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, equities research analysts forecast that ABIOMED, Inc. will post 3.57 EPS for the current year.

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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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