Abiomed, Inc. (NASDAQ:ABMD) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 1,170,000 shares, an increase of 26.0% from the November 30th total of 928,900 shares. Based on an average daily volume of 239,200 shares, the days-to-cover ratio is currently 4.9 days. Currently, 2.6% of the company’s stock are short sold.
NASDAQ ABMD opened at $338.20 on Thursday. The stock has a market capitalization of $15.39 billion, a P/E ratio of 104.38, a P/E/G ratio of 4.26 and a beta of 1.29. Abiomed has a 52-week low of $261.27 and a 52-week high of $387.40. The firm has a 50-day moving average price of $338.01 and a 200 day moving average price of $337.51.
Abiomed (NASDAQ:ABMD) last released its earnings results on Wednesday, October 27th. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.05. The company had revenue of $248.10 million for the quarter, compared to analysts’ expectations of $248.06 million. Abiomed had a return on equity of 15.80% and a net margin of 15.32%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, equities research analysts predict that Abiomed will post 4.21 earnings per share for the current year.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Abiomed from a “sell” rating to a “hold” rating and set a $369.00 price objective for the company in a report on Wednesday, November 17th. SVB Leerink reiterated a “hold” rating on shares of Abiomed in a research note on Sunday, October 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Abiomed currently has an average rating of “Hold” and a consensus target price of $364.80.
In other Abiomed news, Director Martin P. Sutter sold 15,000 shares of the company’s stock in a transaction on Thursday, November 18th. The shares were sold at an average price of $338.59, for a total value of $5,078,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin P. Sutter sold 3,750 shares of Abiomed stock in a transaction dated Tuesday, November 16th. The stock was sold at an average price of $351.85, for a total value of $1,319,437.50. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in ABMD. Macquarie Group Ltd. raised its position in Abiomed by 4,427.5% in the second quarter. Macquarie Group Ltd. now owns 483,180 shares of the medical equipment provider’s stock worth $150,805,000 after acquiring an additional 472,508 shares in the last quarter. Marathon Asset Mgmt Ltd acquired a new position in shares of Abiomed during the 3rd quarter worth $65,708,000. Alliancebernstein L.P. increased its holdings in shares of Abiomed by 16.6% in the 3rd quarter. Alliancebernstein L.P. now owns 980,067 shares of the medical equipment provider’s stock valued at $319,031,000 after purchasing an additional 139,295 shares in the last quarter. Ownership Capital B.V. lifted its stake in shares of Abiomed by 19.9% in the third quarter. Ownership Capital B.V. now owns 724,443 shares of the medical equipment provider’s stock valued at $235,821,000 after purchasing an additional 120,266 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Abiomed by 2.8% in the third quarter. BlackRock Inc. now owns 4,305,025 shares of the medical equipment provider’s stock valued at $1,401,371,000 after purchasing an additional 115,689 shares during the period. 90.52% of the stock is currently owned by hedge funds and other institutional investors.
Abiomed Company Profile
ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It distributes its products under the Impella brand. The company was founded by David M. Lederman in 1981 and is headquartered in Danvers, MA.