Bank of New York Mellon Corp Buys 2,632 Shares of Abiomed, Inc. (NASDAQ:ABMD)

Bank of New York Mellon Corp raised its holdings in shares of Abiomed, Inc. (NASDAQ:ABMD) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 689,607 shares of the medical equipment provider’s stock after acquiring an additional 2,632 shares during the quarter. Bank of New York Mellon Corp’s holdings in Abiomed were worth $215,234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ABMD. Ownership Capital B.V. purchased a new stake in Abiomed during the 2nd quarter valued at $188,570,000. William Blair Investment Management LLC boosted its stake in Abiomed by 65.4% during the 1st quarter. William Blair Investment Management LLC now owns 937,156 shares of the medical equipment provider’s stock valued at $298,700,000 after purchasing an additional 370,442 shares during the last quarter. Credit Suisse AG boosted its stake in Abiomed by 31.4% during the 1st quarter. Credit Suisse AG now owns 905,990 shares of the medical equipment provider’s stock valued at $288,766,000 after purchasing an additional 216,404 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Abiomed by 5.6% during the 2nd quarter. Baillie Gifford & Co. now owns 3,633,412 shares of the medical equipment provider’s stock valued at $1,134,024,000 after purchasing an additional 191,084 shares during the last quarter. Finally, Marathon Asset Management LLP boosted its stake in Abiomed by 60.8% during the 2nd quarter. Marathon Asset Management LLP now owns 158,930 shares of the medical equipment provider’s stock valued at $49,602,000 after purchasing an additional 60,071 shares during the last quarter. Institutional investors and hedge funds own 90.37% of the company’s stock.

In other news, CEO Michael R. Minogue sold 24,471 shares of Abiomed stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $350.00, for a total value of $8,564,850.00. Following the sale, the chief executive officer now directly owns 236,106 shares of the company’s stock, valued at $82,637,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael R. Minogue sold 3,492 shares of the business’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $350.00, for a total value of $1,222,200.00. The disclosure for this sale can be found here. Insiders sold 35,663 shares of company stock worth $12,469,301 over the last ninety days. Insiders own 3.00% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Abiomed from a “sell” rating to a “hold” rating and set a $345.00 price target on the stock in a research note on Tuesday, August 3rd. SVB Leerink raised their price target on Abiomed from $335.00 to $375.00 and gave the stock a “market perform” rating in a research note on Friday, August 6th. Deutsche Bank Aktiengesellschaft raised their price target on Abiomed from $360.00 to $410.00 and gave the stock a “buy” rating in a research note on Friday, August 6th. Finally, TheStreet downgraded Abiomed from a “b-” rating to a “c” rating in a research report on Wednesday, August 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Abiomed presently has an average rating of “Hold” and an average price target of $360.00.

NASDAQ ABMD opened at $350.36 on Friday. The company has a market capitalization of $15.90 billion, a PE ratio of 104.27, a price-to-earnings-growth ratio of 5.77 and a beta of 1.31. The business’s fifty day moving average is $344.12 and its 200 day moving average is $320.66. Abiomed, Inc. has a fifty-two week low of $242.73 and a fifty-two week high of $387.40.

Abiomed (NASDAQ:ABMD) last posted its quarterly earnings results on Tuesday, August 3rd. The medical equipment provider reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.35. The business had revenue of $252.59 million for the quarter, compared to analysts’ expectations of $243.81 million. Abiomed had a return on equity of 16.35% and a net margin of 16.51%. Sell-side analysts anticipate that Abiomed, Inc. will post 4.18 earnings per share for the current fiscal year.

Abiomed Company 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 distributes its products under the Impella brand. The company was founded by David M. Lederman in 1981 and is headquartered in Danvers, MA.

Further Reading: Forex

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Institutional Ownership by Quarter for Abiomed (NASDAQ:ABMD)

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