Redwood Investments LLC Cuts Holdings in ABIOMED, Inc. (ABMD)

Redwood Investments LLC lessened its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,496 shares of the medical equipment provider’s stock after selling 198 shares during the period. Redwood Investments LLC’s holdings in ABIOMED were worth $1,855,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc lifted its holdings in shares of ABIOMED by 5.9% in the 3rd quarter. Vanguard Group Inc now owns 4,647,227 shares of the medical equipment provider’s stock worth $2,090,091,000 after acquiring an additional 260,829 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of ABIOMED by 1.5% in the 4th quarter. BlackRock Inc. now owns 3,165,242 shares of the medical equipment provider’s stock worth $1,028,829,000 after acquiring an additional 47,673 shares during the last quarter. Baillie Gifford & Co. raised its holdings in ABIOMED by 1.2% during the 1st quarter. Baillie Gifford & Co. now owns 1,081,431 shares of the medical equipment provider’s stock valued at $308,846,000 after buying an additional 12,572 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in ABIOMED by 0.5% during the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 642,283 shares of the medical equipment provider’s stock valued at $208,767,000 after buying an additional 3,427 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in ABIOMED by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 606,848 shares of the medical equipment provider’s stock valued at $196,924,000 after buying an additional 32,418 shares during the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.

In related news, Director Martin P. Sutter sold 4,664 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $259.97, for a total transaction of $1,212,500.08. Following the completion of the sale, the director now directly owns 192,550 shares in the company, valued at approximately $50,057,223.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.50% of the company’s stock.

NASDAQ:ABMD opened at $260.48 on Friday. ABIOMED, Inc. has a 52 week low of $228.00 and a 52 week high of $459.75. The firm has a market cap of $11.82 billion, a P/E ratio of 72.36, a PEG ratio of 2.05 and a beta of 0.29.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.53. ABIOMED had a net margin of 33.66% and a return on equity of 20.32%. The company had revenue of $207.08 million during the quarter, compared to analyst estimates of $218.88 million. During the same period in the prior year, the business posted $0.80 EPS. The firm’s revenue was up 18.7% compared to the same quarter last year. On average, equities analysts anticipate that ABIOMED, Inc. will post 4.57 earnings per share for the current fiscal year.

A number of research firms recently commented on ABMD. ValuEngine upgraded shares of ABIOMED from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. BidaskClub lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Zacks Investment Research lowered shares of ABIOMED from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, BTIG Research reiterated a “buy” rating and set a $400.00 price target on shares of ABIOMED in a report on Tuesday, January 22nd. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $408.67.

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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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