Wedmont Private Capital Cuts Stock Holdings in Abiomed, Inc. (NASDAQ:ABMD)

Wedmont Private Capital reduced its position in shares of Abiomed, Inc. (NASDAQ:ABMDGet Rating) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,245 shares of the medical equipment provider’s stock after selling 92 shares during the period. Wedmont Private Capital’s holdings in Abiomed were worth $308,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABMD. Parallel Advisors LLC grew its position in shares of Abiomed by 26.2% in the first quarter. Parallel Advisors LLC now owns 188 shares of the medical equipment provider’s stock valued at $62,000 after purchasing an additional 39 shares in the last quarter. Ellevest Inc. grew its position in shares of Abiomed by 72.9% in the first quarter. Ellevest Inc. now owns 102 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 43 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Abiomed by 1.0% in the first quarter. CIBC Asset Management Inc now owns 4,317 shares of the medical equipment provider’s stock valued at $1,430,000 after purchasing an additional 44 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Abiomed by 1.9% in the first quarter. Crossmark Global Holdings Inc. now owns 2,720 shares of the medical equipment provider’s stock valued at $901,000 after purchasing an additional 50 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Abiomed by 96.5% in the first quarter. Parkside Financial Bank & Trust now owns 112 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 55 shares in the last quarter. 92.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. StockNews.com lowered Abiomed from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on Abiomed from $410.00 to $355.00 in a report on Thursday, July 21st. Finally, Morgan Stanley decreased their price objective on Abiomed from $275.00 to $235.00 and set an “underweight” rating on the stock in a report on Friday, July 15th.

Abiomed Stock Performance

ABMD opened at $257.87 on Tuesday. The business’s 50 day moving average price is $274.94 and its 200 day moving average price is $276.38. Abiomed, Inc. has a one year low of $219.85 and a one year high of $379.30. The stock has a market capitalization of $11.77 billion, a PE ratio of 54.40 and a beta of 1.37.

Abiomed (NASDAQ:ABMDGet Rating) last released its quarterly earnings results on Thursday, August 4th. The medical equipment provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.19. Abiomed had a return on equity of 14.33% and a net margin of 20.60%. The company had revenue of $277.15 million for the quarter, compared to analysts’ expectations of $276.46 million. During the same period in the prior year, the firm earned $1.10 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts forecast that Abiomed, Inc. will post 4.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Abiomed news, VP Marc A. Began sold 500 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $255.95, for a total transaction of $127,975.00. Following the transaction, the vice president now directly owns 15,785 shares in the company, valued at $4,040,170.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Marc A. Began sold 500 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $255.95, for a total value of $127,975.00. Following the sale, the vice president now directly owns 15,785 shares in the company, valued at $4,040,170.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Todd A. Trapp sold 1,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 16,927 shares in the company, valued at $5,078,100. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

Abiomed Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Abiomed (NASDAQ:ABMD)

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