Tower Research Capital LLC TRC trimmed its holdings in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 6.9% during the second quarter, HoldingsChannel.com reports. The fund owned 2,470 shares of the medical equipment provider’s stock after selling 184 shares during the quarter. Tower Research Capital LLC TRC’s holdings in ABIOMED were worth $1,010,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Cerebellum GP LLC bought a new position in ABIOMED during the second quarter worth about $151,000. Rampart Investment Management Company LLC bought a new position in ABIOMED during the second quarter worth about $175,000. NewSquare Capital LLC bought a new position in ABIOMED during the second quarter worth about $186,000. Piedmont Investment Advisors LLC bought a new position in ABIOMED in the 2nd quarter valued at about $196,000. Finally, WealthTrust Fairport LLC bought a new position in ABIOMED in the 1st quarter valued at about $145,000. 86.21% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. BidaskClub lowered shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Zacks Investment Research raised shares of ABIOMED from a “hold” rating to a “buy” rating and set a $457.00 target price on the stock in a report on Tuesday, July 10th. ValuEngine lowered shares of ABIOMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 18th. Piper Jaffray Companies raised their target price on shares of ABIOMED from $360.00 to $480.00 and gave the company an “overweight” rating in a report on Friday, June 22nd. Finally, Jefferies Financial Group raised their target price on shares of ABIOMED to $460.00 and gave the company a “buy” rating in a report on Tuesday, May 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. ABIOMED currently has an average rating of “Buy” and a consensus price target of $374.88.

In other news, COO David M. Weber sold 19,282 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $356.77, for a total value of $6,879,239.14. Following the transaction, the chief operating officer now owns 167,124 shares in the company, valued at approximately $59,624,829.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew J. Greenfield sold 4,440 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $395.00, for a total transaction of $1,753,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,722 shares of company stock worth $54,800,489. 3.50% of the stock is owned by corporate insiders.

ABMD opened at $368.90 on Tuesday. ABIOMED, Inc. has a 1-year low of $155.57 and a 1-year high of $450.93. The company has a market capitalization of $17.76 billion, a PE ratio of 150.57, a P/E/G ratio of 4.23 and a beta of -0.08.

ABIOMED (NASDAQ:ABMD) last posted its quarterly earnings results on Thursday, July 26th. The medical equipment provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $1.15. ABIOMED had a net margin of 25.71% and a return on equity of 18.91%. The company had revenue of $180.01 million for the quarter, compared to the consensus estimate of $173.87 million. During the same period last year, the company posted $0.82 EPS. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. sell-side analysts anticipate that ABIOMED, Inc. will post 3.46 earnings per share for the current year.

About ABIOMED

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 continuum of care to heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.

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Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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