LexAurum Advisors LLC Invests $205,000 in ABIOMED, Inc. (ABMD)

LexAurum Advisors LLC purchased a new stake in ABIOMED, Inc. (NASDAQ:ABMD) in the second quarter, Holdings Channel reports. The firm purchased 500 shares of the medical equipment provider’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABMD. Harvest Fund Management Co. Ltd acquired a new stake in shares of ABIOMED in the first quarter valued at approximately $108,000. WealthTrust Fairport LLC acquired a new stake in shares of ABIOMED in the first quarter valued at approximately $145,000. Cerebellum GP LLC acquired a new stake in shares of ABIOMED in the second quarter valued at approximately $151,000. Dupont Capital Management Corp acquired a new stake in shares of ABIOMED in the first quarter valued at approximately $161,000. Finally, NewSquare Capital LLC acquired a new stake in shares of ABIOMED in the second quarter valued at approximately $186,000. Institutional investors own 87.50% of the company’s stock.

Several research analysts have commented on the stock. BidaskClub downgraded shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. Morgan Stanley boosted their price objective on shares of ABIOMED from $259.00 to $320.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 1st. Zacks Investment Research upgraded shares of ABIOMED from a “hold” rating to a “buy” rating and set a $338.00 price objective for the company in a research report on Thursday, May 3rd. Piper Jaffray Companies boosted their price objective on shares of ABIOMED from $360.00 to $480.00 and gave the company an “overweight” rating in a research report on Friday, June 22nd. Finally, ValuEngine upgraded shares of ABIOMED from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 3rd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $374.88.

Shares of ABIOMED opened at $377.83 on Monday, according to Marketbeat Ratings. ABIOMED, Inc. has a one year low of $144.01 and a one year high of $450.93. The company has a market cap of $16.96 billion, a price-to-earnings ratio of 154.22, a PEG ratio of 4.06 and a beta of -0.02.

ABIOMED (NASDAQ:ABMD) last announced its quarterly earnings data on Thursday, July 26th. The medical equipment provider reported $1.95 EPS for the quarter, beating the consensus estimate of $0.80 by $1.15. ABIOMED had a net margin of 25.71% and a return on equity of 18.91%. The business had revenue of $180.01 million during the quarter, compared to the consensus estimate of $173.87 million. During the same period in the previous year, the business earned $0.82 earnings per share. The company’s revenue was up 35.9% on a year-over-year basis. equities research analysts anticipate that ABIOMED, Inc. will post 3.45 EPS for the current year.

In other news, Chairman Michael R. Minogue sold 105,000 shares of the company’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $439.69, for a total transaction of $46,167,450.00. Following the completion of the transaction, the chairman now directly owns 481,150 shares in the company, valued at $211,556,843.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David M. Weber sold 19,282 shares of the company’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $356.77, for a total transaction of $6,879,239.14. Following the transaction, the chief operating officer now owns 167,124 shares of the company’s stock, valued at $59,624,829.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 170,782 shares of company stock valued at $73,628,984. Company insiders own 3.50% of the company’s stock.

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 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.

Further Reading: Penny Stocks

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Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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