Janney Montgomery Scott LLC Acquires Shares of 2,065 Abiomed, Inc. (NASDAQ:ABMD)

Janney Montgomery Scott LLC bought a new stake in shares of Abiomed, Inc. (NASDAQ:ABMD – Get Rating) in the third quarter, HoldingsChannel reports. The institutional investor bought 2,065 shares of the medical equipment provider’s stock, valued at approximately $507,000.

A number of other institutional investors have also recently modified their holdings of ABMD. Strs Ohio lifted its position in shares of Abiomed by 6,034.8% during the 2nd quarter. Strs Ohio now owns 96,500 shares of the medical equipment provider’s stock valued at $23,884,000 after acquiring an additional 94,927 shares during the period. State Street Corp lifted its position in shares of Abiomed by 3.5% during the 2nd quarter. State Street Corp now owns 2,086,770 shares of the medical equipment provider’s stock worth $516,496,000 after buying an additional 70,134 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Abiomed by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,911,337 shares of the medical equipment provider’s stock worth $1,626,831,000 after buying an additional 68,353 shares during the last quarter. Sei Investments Co. lifted its position in shares of Abiomed by 33.8% during the 2nd quarter. Sei Investments Co. now owns 255,236 shares of the medical equipment provider’s stock worth $63,175,000 after buying an additional 64,460 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of Abiomed by 7.0% during the 2nd quarter. William Blair Investment Management LLC now owns 978,158 shares of the medical equipment provider’s stock worth $242,104,000 after buying an additional 64,350 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Marc A. Began sold 2,000 shares of the stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $373.71, for a total value of $747,420.00. Following the completion of the sale, the vice president now owns 13,785 shares of the company’s stock, valued at $5,151,592.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Marc A. Began sold 2,000 shares of the stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $373.71, for a total value of $747,420.00. Following the completion of the sale, the vice president now owns 13,785 shares of the company’s stock, valued at $5,151,592.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Thomas sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $379.38, for a total value of $379,380.00. Following the sale, the director now directly owns 6,357 shares of the company’s stock, valued at approximately $2,411,718.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,544 shares of company stock valued at $2,468,594. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ABMD shares. Morgan Stanley upgraded Abiomed from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $235.00 to $380.00 in a research report on Wednesday, November 2nd. StockNews.com started coverage on Abiomed in a research report on Thursday. They set a “hold” rating for the company. William Blair downgraded Abiomed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 1st. Mizuho assumed coverage on Abiomed in a report on Wednesday, October 12th. They issued a “buy” rating and a $300.00 target price for the company. Finally, Piper Sandler cut Abiomed from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $350.00 to $380.00 in a report on Tuesday, November 1st. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $350.50.

Abiomed Stock Up 0.1 %

Shares of ABMD opened at $381.02 on Monday. Abiomed, Inc. has a 12-month low of $219.85 and a 12-month high of $381.99. The business has a 50-day simple moving average of $379.49 and a two-hundred day simple moving average of $313.51. The stock has a market cap of $17.18 billion, a PE ratio of 65.47, a PEG ratio of 3.33 and a beta of 1.40.

Abiomed (NASDAQ:ABMD – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The medical equipment provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.25. The company had revenue of $265.92 million during the quarter, compared to analysts’ expectations of $273.30 million. Abiomed had a return on equity of 14.77% and a net margin of 24.84%. On average, equities research analysts expect that Abiomed, Inc. will post 4.58 EPS for the current year.

Abiomed Company 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.