Abiomed, Inc. (NASDAQ:ABMD) Stock Holdings Lessened by Prospera Financial Services Inc

Posted by MarketBeat News on Aug 4th, 2022

Prospera Financial Services Inc trimmed its stake in Abiomed, Inc. (NASDAQ:ABMD – Get Rating) by 22.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 544 shares of the medical equipment provider’s stock after selling 156 shares during the quarter. Prospera Financial Services Inc’s holdings in Abiomed were worth $180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ABMD. BlackRock Inc. lifted its position in shares of Abiomed by 6.7% in the fourth quarter. BlackRock Inc. now owns 4,592,566 shares of the medical equipment provider’s stock worth $1,649,511,000 after purchasing an additional 287,541 shares in the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of Abiomed in the first quarter worth approximately $42,775,000. Geode Capital Management LLC lifted its position in shares of Abiomed by 15.1% in the fourth quarter. Geode Capital Management LLC now owns 953,859 shares of the medical equipment provider’s stock worth $341,837,000 after purchasing an additional 125,325 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Abiomed by 258.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 173,443 shares of the medical equipment provider’s stock valued at $62,296,000 after acquiring an additional 125,100 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Abiomed by 372.5% during the fourth quarter. Marshall Wace LLP now owns 143,416 shares of the medical equipment provider’s stock valued at $51,512,000 after acquiring an additional 113,062 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Abiomed from $275.00 to $235.00 and set an “underweight” rating on the stock in a research report on Friday, July 15th. StockNews.com lowered shares of Abiomed from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Abiomed from $410.00 to $355.00 in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Abiomed has an average rating of “Hold” and an average target price of $311.25.

Abiomed Stock Up 2.7 %

NASDAQ:ABMD opened at $301.46 on Thursday. Abiomed, Inc. has a 12 month low of $219.85 and a 12 month high of $379.30. The firm has a market cap of $13.76 billion, a price-to-earnings ratio of 101.84 and a beta of 1.35. The company’s 50 day moving average is $261.21 and its 200-day moving average is $283.32.

Insider Activity

In other news, Director Martin P. Sutter sold 2,000 shares of Abiomed 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 transaction, the director now owns 128,390 shares of the company’s stock, valued at $33,125,903.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

Abiomed Profile

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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.