TIAA CREF Investment Management LLC Purchases 75,292 Shares of ABIOMED, Inc. (ABMD)
TIAA CREF Investment Management LLC boosted its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 56.4% during the first quarter, Holdings Channel reports. The firm owned 208,883 shares of the medical equipment provider’s stock after buying an additional 75,292 shares during the period. TIAA CREF Investment Management LLC’s holdings in ABIOMED were worth $26,152,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of ABIOMED by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 132,006 shares of the medical equipment provider’s stock valued at $14,875,000 after buying an additional 4,990 shares during the period. William Blair Investment Management LLC boosted its stake in shares of ABIOMED by 8.9% in the first quarter. William Blair Investment Management LLC now owns 1,121,017 shares of the medical equipment provider’s stock valued at $140,351,000 after buying an additional 91,651 shares during the period. Creative Planning boosted its stake in shares of ABIOMED by 16.4% in the first quarter. Creative Planning now owns 916 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 129 shares during the period. World Asset Management Inc boosted its stake in shares of ABIOMED by 17.0% in the first quarter. World Asset Management Inc now owns 2,844 shares of the medical equipment provider’s stock valued at $356,000 after buying an additional 413 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of ABIOMED by 56.3% in the fourth quarter. Marshall Wace LLP now owns 55,113 shares of the medical equipment provider’s stock valued at $6,210,000 after buying an additional 19,858 shares during the period. 91.02% of the stock is currently owned by institutional investors and hedge funds.
ABIOMED, Inc. (ABMD) traded up 0.36% during mid-day trading on Friday, reaching $143.39. The company had a trading volume of 293,856 shares. ABIOMED, Inc. has a 52 week low of $95.14 and a 52 week high of $145.58. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 122.56 and a beta of 0.25. The stock has a 50 day moving average of $136.37 and a 200 day moving average of $122.08.
ABIOMED (NASDAQ:ABMD) last released its quarterly earnings data on Thursday, May 4th. The medical equipment provider reported $0.33 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.33. The company had revenue of $124.68 million for the quarter, compared to analyst estimates of $122.82 million. ABIOMED had a return on equity of 12.67% and a net margin of 11.70%. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. Analysts anticipate that ABIOMED, Inc. will post $1.84 earnings per share for the current year.
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Several analysts recently weighed in on the company. Piper Jaffray Companies upgraded ABIOMED from a “neutral” rating to an “overweight” rating and set a $145.00 price target on the stock in a report on Thursday, April 6th. TheStreet upgraded ABIOMED from a “c+” rating to a “b-” rating in a report on Tuesday, February 21st. William Blair restated an “outperform” rating on shares of ABIOMED in a report on Thursday, June 8th. Finally, Leerink Swann increased their price target on ABIOMED from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, March 30th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $151.00.
In other ABIOMED news, VP Michael G. Howley sold 18,279 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $133.56, for a total transaction of $2,441,343.24. Following the transaction, the vice president now owns 62,105 shares of the company’s stock, valued at $8,294,743.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael G. Howley sold 600 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $132.84, for a total value of $79,704.00. Following the transaction, the vice president now directly owns 48,305 shares in the company, valued at approximately $6,416,836.20. The disclosure for this sale can be found here. Insiders have sold 53,629 shares of company stock worth $7,072,580 in the last three months. 10.00% of the stock is currently owned by corporate insiders.
ABIOMED Company Profile
ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.
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