Palo Alto Investors LLC Has Cut Abiomed INC (ABMD) Position by $69.24 Million; Stock Rose

August 9, 2018 - By Margaret Guttierez

ABIOMED, Inc. (NASDAQ:ABMD) LogoInvestors sentiment decreased to 0.95 in 2018 Q1. Its down 0.23, from 1.18 in 2017Q4. It dived, as 23 investors sold ABMD shares while 135 reduced holdings. 67 funds opened positions while 83 raised stakes. 36.41 million shares or 0.08% less from 36.44 million shares in 2017Q4 were reported. Janney Montgomery Scott Ltd Liability Corporation stated it has 0.01% of its portfolio in ABIOMED, Inc. (NASDAQ:ABMD). Moreover, Amundi Pioneer Asset Mgmt has 0.03% invested in ABIOMED, Inc. (NASDAQ:ABMD) for 69,555 shares. Fincl Bank Of Montreal Can holds 0.01% or 20,312 shares. Moreover, Hl Svcs Limited Liability Company has 0.14% invested in ABIOMED, Inc. (NASDAQ:ABMD) for 27,726 shares. Ls Invest Advsr Limited Company accumulated 3,478 shares. Qs Invsts Limited Liability Corp owns 1,504 shares. Manufacturers Life The holds 0.02% of its portfolio in ABIOMED, Inc. (NASDAQ:ABMD) for 67,235 shares. Brookstone reported 1,393 shares or 0.04% of all its holdings. Alliancebernstein LP holds 0.01% of its portfolio in ABIOMED, Inc. (NASDAQ:ABMD) for 56,493 shares. Cortina Asset Mngmt Limited Co holds 933 shares or 0.01% of its portfolio. Nicholas Invest Prtn Limited Partnership holds 59,333 shares or 1.23% of its portfolio. Eqis Capital Mgmt invested in 1,402 shares or 0.02% of the stock. Huntington National Bank & Trust has invested 0% in ABIOMED, Inc. (NASDAQ:ABMD). Synovus Fincl holds 0% or 84 shares. Advsrs Asset Mgmt Inc holds 0.08% in ABIOMED, Inc. (NASDAQ:ABMD) or 17,965 shares.

Since February 20, 2018, it had 0 buys, and 7 insider sales for $98.40 million activity. PUHY DOROTHY E sold 13,500 shares worth $4.70 million. On Monday, May 7 Howley Michael G sold $6.09 million worth of ABIOMED, Inc. (NASDAQ:ABMD) or 17,500 shares. $7.52 million worth of ABIOMED, Inc. (NASDAQ:ABMD) was sold by SUTTER MARTIN P. BOLT WILLIAM J sold $7.93M worth of stock or 22,790 shares. Weber David M sold $20.58M worth of ABIOMED, Inc. (NASDAQ:ABMD) on Friday, June 15. On Tuesday, February 20 the insider Greenfield Andrew J sold $5.41 million.

Palo Alto Investors Llc decreased its stake in Abiomed Inc (ABMD) by 15.06% based on its latest 2018Q1 regulatory filing with the SEC. Palo Alto Investors Llc sold 238,753 shares as the company’s stock rose 44.33% while stock markets declined. The hedge fund held 1.35M shares of the health care company at the end of 2018Q1, valued at $391.87 million, down from 1.59 million at the end of the previous reported quarter. Palo Alto Investors Llc who had been investing in Abiomed Inc for a number of months, seems to be less bullish one the $16.87B market cap company. The stock decreased 0.10% or $0.39 during the last trading session, reaching $376.01. About 440,285 shares traded. ABIOMED, Inc. (NASDAQ:ABMD) has risen 190.17% since August 9, 2017 and is uptrending. It has outperformed by 177.60% the S&P500.

Palo Alto Investors Llc, which manages about $1.30B and $2.34 billion US Long portfolio, upped its stake in Insmed Inc (NASDAQ:INSM) by 755,004 shares to 7.16M shares, valued at $161.23 million in 2018Q1, according to the filing. It also increased its holding in Shire Plc (NASDAQ:SHPG) by 55,400 shares in the quarter, for a total of 191,200 shares, and has risen its stake in Biomarin Pharmaceutical Inc (NASDAQ:BMRN).

Analysts await ABIOMED, Inc. (NASDAQ:ABMD) to report earnings on October, 25. They expect $0.74 earnings per share, up 68.18 % or $0.30 from last year’s $0.44 per share. ABMD’s profit will be $33.21 million for 127.03 P/E if the $0.74 EPS becomes a reality. After $0.78 actual earnings per share reported by ABIOMED, Inc. for the previous quarter, Wall Street now forecasts -5.13 % negative EPS growth.

More notable recent ABIOMED, Inc. (NASDAQ:ABMD) news were published by: Investorplace.com which released: “The 10 Best Stocks to Buy Right Now” on August 03, 2018, also Seekingalpha.com with their article: “Stay Away From Natural Gas Stocks – Cramer’s Lightning Round (7/16/18)” published on July 17, 2018, Fool.com published: “5 Stocks to Buy in August” on August 01, 2018. More interesting news about ABIOMED, Inc. (NASDAQ:ABMD) were released by: Seekingalpha.com and their article: “ABIOMED, Inc. 2019 Q1 – Results – Earnings Call Slides” published on July 26, 2018 as well as Nasdaq.com‘s news article titled: “Abiomed Announces Approval in India for the Impella 2.5®, Impella CP® and Impella 5.0® Heart Pumps and First …” with publication date: July 26, 2018.

ABIOMED, Inc. (NASDAQ:ABMD) Ratings Coverage

Among 4 analysts covering Abiomed (NASDAQ:ABMD), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Abiomed has $370.0 highest and $30000 lowest target. $330.50’s average target is -12.10% below currents $376.01 stock price. Abiomed had 4 analyst reports since February 16, 2018 according to SRatingsIntel. SunTrust maintained ABIOMED, Inc. (NASDAQ:ABMD) rating on Friday, February 16. SunTrust has “Buy” rating and $370.0 target. Stephens maintained ABIOMED, Inc. (NASDAQ:ABMD) on Monday, April 9 with “Buy” rating. The stock of ABIOMED, Inc. (NASDAQ:ABMD) earned “Equal-Weight” rating by Morgan Stanley on Tuesday, May 1.

ABIOMED, Inc. (NASDAQ:ABMD) Institutional Positions Chart

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