Mutual of America Capital Management LLC owns $2.02 million in Abiomed, Inc. (NASDAQ: ABMD)
Mutual of America Capital Management LLC increased its stake in Abiomed, Inc. (NASDAQ: ABMD – Get a rating) by 1.1% during the first quarter, Participation channel reports. The company held 6,086 shares of the medical equipment supplier after acquiring 69 additional shares during the quarter. Mutual of America Capital Management LLC’s holdings in Abiomed were worth $2,016,000 at the end of the last quarter.
A number of other hedge funds and other institutional investors have also recently changed their positions in the company. Ascent Wealth Partners LLC increased its equity stake in Abiomed by 0.8% in Q1. Ascent Wealth Partners LLC now owns 9,174 shares of the medical equipment supplier valued at $3,039,000 after purchasing an additional 74 shares during the period. Personal CFO Solutions LLC acquired a new position in Abiomed during Q1 worth approximately $235,000. Signaturefd LLC increased its stake in Abiomed by 71.2% in the 1st quarter. Signaturefd LLC now owns 250 shares of the medical equipment supplier worth $83,000 after purchasing an additional 104 shares during the period. Patten & Patten Inc. TN increased its stake in Abiomed by 14.3% in the 1st quarter. Patten & Patten Inc. TN now owns 4,023 shares of the medical equipment supplier worth $1,333,000 after purchasing an additional 504 shares during the period. Finally, Illinois Municipal Retirement Fund increased its stake in Abiomed by 31.6% during the first quarter. The Illinois Municipal Retirement Fund now owns 18,468 shares of the medical equipment supplier worth $6,117,000 after buying 4,437 additional shares during the period. 92.03% of the shares are held by institutional investors and hedge funds.
Analyst upgrades and downgrades
ABMD has been the subject of several research reports. StockNews.com downgraded Abiomed from a “buy” rating to a “hold” rating in a Friday, July 1 research note. Morgan Stanley lowered its price target on Abiomed from $275.00 to $235.00 and set an “underweight” rating on the stock in a Friday July 15 research note. Wolfe Research began covering Abiomed in a research note on Tuesday, April 5. They issued a “market performance” rating and a price target of $330.00 for the company. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Abiomed from $410.00 to $355.00 in a Thursday, July 21 research note. One analyst rated the stock with a sell rating, three issued a hold rating and one issued the company a buy rating. According to MarketBeat, Abiomed currently has an average rating of “Hold” and an average price target of $311.25.
Abiomed stock up 0.3%
Shares of Action Abiomed opened at $293.01 on Friday. The company has a market capitalization of $13.37 billion, a PE ratio of 98.99 and a beta of 1.32. Abiomed, Inc. has a 52-week low of $219.85 and a 52-week high of $379.30. The company has a 50-day moving average price of $257.37 and a 200-day moving average price of $283.76.
Abiomed (NASDAQ: ABMD – Get a rating) last released its results on Thursday, April 28. The medical equipment supplier reported earnings per share (EPS) of $1.16 for the quarter, beating the consensus estimate of $1.08 by $0.08. The company posted revenue of $269.50 million in the quarter, compared to analyst estimates of $267.67 million. Abiomed had a return on equity of 14.47% and a net margin of 13.23%. Abiomed’s quarterly revenue increased 11.7% year over year. In the same period a year earlier, the company posted earnings per share of $1.24. As a group, research analysts expect Abiomed, Inc. to post EPS of 4.63 for the current year.
In other news, Director Martin P.Sutter sold 2,000 shares of the company in a transaction that took place on Tuesday, May 17. The stock was sold at an average price of $258.01, for a total value of $516,020.00. Following completion of the transaction, the administrator now directly owns 128,390 shares of the company, valued at $33,125,903.90. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. 2.50% of the shares are currently held by company insiders.
Abiomed, Inc engages in the research, development and sale of medical devices to aid or replace the pumping function of the failing heart. It also offers a continuum of care for patients with heart failure. The company offers Impella 2.5, a percutaneous micro heart pump with integrated motor and sensors; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab, as well as cardiac surgeons in the cardiac surgery room.
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