Insider Selling: Abiomed, Inc. (NASDAQ:ABMD) CFO Sells 1,000 Shares of Stock
Abiomed, Inc. (NASDAQ:ABMD – Get Rating) CFO Todd A. Trapp sold 1,000 shares of Abiomed stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 16,927 shares of the company’s stock, valued at approximately $5,078,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Abiomed Price Performance
Shares of NASDAQ:ABMD traded down $0.74 during trading on Friday, hitting $291.50. 237,309 shares of the company were exchanged, compared to its average volume of 335,895. The firm’s 50 day moving average price is $261.83 and its 200-day moving average price is $283.26. Abiomed, Inc. has a 12-month low of $219.85 and a 12-month high of $379.30. The stock has a market capitalization of $13.30 billion, a P/E ratio of 98.44 and a beta of 1.35.
Abiomed (NASDAQ:ABMD – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The medical equipment provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.06 by $0.19. Abiomed had a net margin of 13.23% and a return on equity of 14.47%. The firm had revenue of $277.15 million during the quarter, compared to the consensus estimate of $276.46 million. During the same quarter in the prior year, the firm earned $1.10 EPS. Abiomed’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities research analysts anticipate that Abiomed, Inc. will post 4.63 EPS for the current year.
Institutional Trading of Abiomed
Institutional investors and hedge funds have recently bought and sold shares of the business. Pinebridge Investments L.P. acquired a new position in Abiomed in the 1st quarter valued at $25,000. Sugarloaf Wealth Management LLC acquired a new position in Abiomed in the 2nd quarter valued at $25,000. KRS Capital Management LLC acquired a new position in Abiomed in the 4th quarter valued at $26,000. CWM LLC acquired a new position in Abiomed in the 4th quarter valued at $29,000. Finally, Janiczek Wealth Management LLC increased its stake in Abiomed by 730.8% in the 2nd quarter. Janiczek Wealth Management LLC now owns 108 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on ABMD shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Abiomed from $410.00 to $355.00 in a research note on Thursday, July 21st. Morgan Stanley decreased their price target on shares of Abiomed from $275.00 to $235.00 and set an “underweight” rating for the company in a research note on Friday, July 15th. Finally, StockNews.com downgraded shares of Abiomed from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Abiomed presently has an average rating of “Hold” and a consensus price target of $311.25.
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 a continuum of care to heart failure patients. The company offers Impella 2.5, a percutaneous micro heart pump with integrated motor and sensors; and Impella CP, a device for use by interventional cardiologists to support patients in the cath lab, as well as by cardiac surgeons in the heart surgery suite.
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