ABIOMED, Inc. (ABMD) Holdings Cut by Yorktown Management & Research Co Inc

Yorktown Management & Research Co Inc lowered its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 18.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,358 shares of the medical equipment provider’s stock after selling 529 shares during the quarter. Yorktown Management & Research Co Inc’s holdings in ABIOMED were worth $1,061,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ABMD. NEXT Financial Group Inc acquired a new position in shares of ABIOMED in the third quarter valued at $115,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in ABIOMED by 160.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 320 shares of the medical equipment provider’s stock valued at $144,000 after acquiring an additional 197 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in ABIOMED in the third quarter valued at about $162,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in ABIOMED during the second quarter worth about $164,000. Finally, Rampart Investment Management Company LLC bought a new position in ABIOMED during the second quarter worth about $175,000. 87.11% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:ABMD opened at $307.51 on Thursday. The company has a market cap of $15.22 billion, a price-to-earnings ratio of 125.51, a P/E/G ratio of 2.76 and a beta of 0.35. ABIOMED, Inc. has a twelve month low of $186.72 and a twelve month high of $459.75.

ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, November 1st. The medical equipment provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $181.78 million during the quarter, compared to the consensus estimate of $175.41 million. During the same period in the previous year, the company posted $0.54 EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. Sell-side analysts forecast that ABIOMED, Inc. will post 3.57 earnings per share for the current fiscal year.

In other news, VP Michael G. Howley sold 10,000 shares of ABIOMED stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 48,954 shares in the company, valued at approximately $21,172,605. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew J. Greenfield sold 4,440 shares of ABIOMED stock in a transaction that occurred on Wednesday, August 29th. The stock was 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.

A number of brokerages have issued reports on ABMD. BidaskClub cut ABIOMED from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research lowered ABIOMED from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. BTIG Research raised ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 target price on the stock in a research report on Friday, November 2nd. Morgan Stanley boosted 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, ValuEngine lowered ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $402.78.

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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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