Oak Ridge Investments LLC Reduces Position in ABIOMED, Inc. (NASDAQ:ABMD)

Oak Ridge Investments LLC cut its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 433,101 shares of the medical equipment provider’s stock after selling 3,839 shares during the quarter. ABIOMED makes up 2.0% of Oak Ridge Investments LLC’s portfolio, making the stock its 8th largest holding. Oak Ridge Investments LLC owned about 0.99% of ABIOMED worth $62,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of ABMD. Northwestern Mutual Investment Management Company LLC grew its holdings in ABIOMED by 0.4% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 6,978 shares of the medical equipment provider’s stock worth $874,000 after buying an additional 25 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in ABIOMED by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,947 shares of the medical equipment provider’s stock worth $852,000 after buying an additional 32 shares in the last quarter. BB&T Securities LLC grew its holdings in ABIOMED by 1.0% in the 2nd quarter. BB&T Securities LLC now owns 4,154 shares of the medical equipment provider’s stock worth $595,000 after buying an additional 43 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in ABIOMED by 1.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,294 shares of the medical equipment provider’s stock worth $472,000 after buying an additional 51 shares in the last quarter. Finally, Capstone Asset Management Co. grew its holdings in ABIOMED by 1.1% in the 2nd quarter. Capstone Asset Management Co. now owns 6,410 shares of the medical equipment provider’s stock worth $919,000 after buying an additional 70 shares in the last quarter. 89.84% of the stock is owned by institutional investors.

A number of research firms have weighed in on ABMD. BidaskClub upgraded ABIOMED from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. William Blair restated an “outperform” rating on shares of ABIOMED in a research report on Thursday, June 8th. Jefferies Group LLC upped their target price on ABIOMED from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Piper Jaffray Companies restated an “overweight” rating and issued a $160.00 target price (up from $145.00) on shares of ABIOMED in a research report on Thursday, July 27th. Finally, Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. ABIOMED currently has a consensus rating of “Buy” and a consensus target price of $158.29.

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ABIOMED, Inc. (NASDAQ:ABMD) traded down 0.18% during mid-day trading on Friday, hitting $158.58. The stock had a trading volume of 571,195 shares. The company has a 50-day moving average price of $152.22 and a 200 day moving average price of $137.99. The company has a market cap of $6.99 billion, a P/E ratio of 92.74 and a beta of 0.22. ABIOMED, Inc. has a 1-year low of $95.14 and a 1-year high of $159.80.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $132.47 million during the quarter, compared to analysts’ expectations of $130.83 million. ABIOMED had a net margin of 16.13% and a return on equity of 13.03%. The business’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period last year, the company posted $0.29 earnings per share. Equities research analysts forecast that ABIOMED, Inc. will post $2.24 EPS for the current fiscal year.

In other ABIOMED news, Director Paul Thomas sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $154.71, for a total value of $1,547,100.00. Following the completion of the sale, the director now directly owns 12,172 shares in the company, valued at $1,883,130.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric A. Md Rose sold 23,018 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $151.09, for a total transaction of $3,477,789.62. Following the completion of the sale, the director now owns 24,652 shares of the company’s stock, valued at $3,724,670.68. The disclosure for this sale can be found here. Insiders sold 50,500 shares of company stock valued at $7,603,342 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

About ABIOMED

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.

Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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