New Mexico Educational Retirement Board Sells 100 Shares of Abiomed, Inc. (NASDAQ:ABMD)

New Mexico Educational Retirement Board trimmed its position in shares of Abiomed, Inc. (NASDAQ:ABMD – Get Rating) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,650 shares of the medical equipment provider’s stock after selling 100 shares during the period. New Mexico Educational Retirement Board’s holdings in Abiomed were worth $878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KRS Capital Management LLC bought a new stake in shares of Abiomed in the fourth quarter valued at about $26,000. CWM LLC bought a new stake in shares of Abiomed in the fourth quarter valued at about $29,000. Sageworth Trust Co of South Dakota bought a new stake in shares of Abiomed in the fourth quarter valued at about $34,000. Hall Laurie J Trustee bought a new stake in shares of Abiomed in the fourth quarter valued at about $36,000. Finally, Cornerstone Advisory LLC bought a new stake in shares of Abiomed in the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

In related news, Director Martin P. Sutter sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $258.01, for a total value of $516,020.00. Following the completion of the sale, the director now owns 128,390 shares of the company’s stock, valued at $33,125,903.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO David M. Weber sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $340.00, for a total transaction of $2,550,000.00. Following the completion of the transaction, the chief operating officer now directly owns 116,314 shares in the company, valued at $39,546,760. The disclosure for this sale can be found here. In the last three months, insiders sold 10,500 shares of company stock valued at $3,399,020. 3.00% of the stock is currently owned by company insiders.

Several research firms recently weighed in on ABMD. Wolfe Research began coverage on shares of Abiomed in a research note on Tuesday, April 5th. They issued a “market perform” rating and a $330.00 target price for the company. StockNews.com raised shares of Abiomed from a “hold” rating to a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $335.00.

NASDAQ ABMD opened at $236.30 on Thursday. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of 79.83, a PEG ratio of 2.00 and a beta of 1.35. The company has a 50 day moving average of $263.69 and a 200-day moving average of $296.12. Abiomed, Inc. has a 1-year low of $219.85 and a 1-year high of $379.30.

Abiomed (NASDAQ:ABMD – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The medical equipment provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. The company had revenue of $269.50 million during the quarter, compared to analyst estimates of $267.67 million. Abiomed had a net margin of 13.23% and a return on equity of 14.47%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $1.24 earnings per share. Research analysts expect that Abiomed, Inc. will post 4.59 earnings per share for the current year.

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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