Cerity Partners LLC Takes $440,000 Position in Abiomed, Inc. (NASDAQ:ABMD)

Cerity Partners LLC acquired a new position in shares of Abiomed, Inc. (NASDAQ:ABMDGet Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,777 shares of the medical equipment provider’s stock, valued at approximately $440,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake 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 worth $62,000 after purchasing an additional 39 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Abiomed by 6.4% in the first quarter. Daiwa Securities Group Inc. now owns 2,861 shares of the medical equipment provider’s stock worth $948,000 after purchasing an additional 173 shares during the period. Signaturefd LLC lifted its holdings in Abiomed by 71.2% in the first quarter. Signaturefd LLC now owns 250 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 104 shares during the period. Mutual of America Capital Management LLC grew its position in Abiomed by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,086 shares of the medical equipment provider’s stock valued at $2,016,000 after buying an additional 69 shares in the last quarter. Finally, Metis Global Partners LLC acquired a new position in Abiomed during the 1st quarter valued at about $239,000. 92.96% of the stock is owned by institutional investors.

Abiomed Stock Up 0.1 %

Shares of Abiomed stock opened at $377.29 on Friday. Abiomed, Inc. has a 12-month low of $219.85 and a 12-month high of $381.99. The firm has a market capitalization of $17.01 billion, a PE ratio of 64.83, a price-to-earnings-growth ratio of 3.19 and a beta of 1.28. The stock’s fifty day moving average is $289.35 and its 200-day moving average is $272.39.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler lowered shares of Abiomed from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $350.00 to $380.00 in a research note on Tuesday, November 1st. StockNews.com initiated coverage on Abiomed in a research note on Wednesday, October 12th. They set a “hold” rating for the company. William Blair downgraded Abiomed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 1st. Morgan Stanley raised Abiomed from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $235.00 to $380.00 in a research note on Wednesday, November 2nd. Finally, Mizuho began coverage on Abiomed in a report on Wednesday, October 12th. They set a “buy” rating and a $300.00 target price on the stock. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $350.50.

Insider Buying and Selling

In other Abiomed news, VP Marc A. Began sold 500 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $255.95, for a total value of $127,975.00. Following the completion of the transaction, the vice president now directly owns 15,785 shares in the company, valued at $4,040,170.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Matthew T. Plano sold 3,544 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $378.61, for a total transaction of $1,341,793.84. Following the transaction, the vice president now directly owns 10,270 shares of the company’s stock, valued at $3,888,324.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Marc A. Began sold 500 shares of the firm’s stock in a transaction dated 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 owns 15,785 shares of the company’s stock, valued at $4,040,170.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,044 shares of company stock valued at $2,596,569. 2.50% of the stock is owned by corporate insiders.

About Abiomed

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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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