It is trading at $176.00 which is slightly above the 50 day moving average which is $165.13 and which is significantly above the 200 day moving average of $146.80. The 50 day moving average moved up $10.87 whereas the 200 day average was up by +19.89%. Trading volume for ABIOMED, Inc. was 210K by the end of trading on Tuesday. Shares saw a steep decrease in trading volume of 41.04% under the normal average daily volume.
Investors are a little more bearish on the company as indicated by the rise in short interest. The firm saw a rise in short interest of 7.90% between September 15, 2017 and September 29, 2017. Short interest grew from 1,503,092 to 1,621,769 over that timeframe. With short interest at 1,621,769 and short average daily volume at 291,639, days to cover is 6.0 and the percentage of shorted shares is 0.04% as of September 29.
ABIOMED, Inc. (NASDAQ:ABMD) has been the object of insider selling activity recently. Paul Thomas, Director reported the sale of 10,000 shares of (ABMD). The shares were sold on August 15th for an average price of $154.71. Thomas now owns $1,883,130 of the stock per the Form 4 SEC filing.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Balasa Dinverno & Foltz LLC had sold a total of 245 shares trimming its position 9.4%. The value in dollars went from $374,000 to $399,000 increasing 6.7% since the last quarter. Capital One, National Association added to its ownership by buying 464 shares an increase of 22.8%. Capital One, National Association now controls 2,500 shares with a value of $422,000. The total value of its holdings increased 44.5%.
As of quarter end Central Trust Co had acquired 180 shares growing its holdings by 6.3%. The value of the company’s investment in ABIOMED, Inc. increased from $409,000 to $512,000 a change of 25.2% for the reporting period. State Treasurer State Of Michigan augmented its stake by buying 49,000 shares an increase of 34.6% from 06/30/2017 to 09/30/2017. State Treasurer State Of Michigan claims 190,800 shares worth $32,169,000. The value of the position overall is up by 58.3%.
On July 28 Leerink Swann maintained a stock rating of “Outperform” and raised the price expectation to $180.00 from $125.00. On September 29 analysts at SunTrust Robinson Humphrey starting coverage on the stock by announcing an initial rating of “Buy”.
On October 16 the stock rating was downgraded from “Neutral” to “Neutral” by BTIG Research.
The company currently has a P/E ratio of 102.92 and the market cap is 7.76B. In the latest earnings report the EPS was $1.71 and is estimated to be $2.24 for the current year with 44,102,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.49 and the next full year EPS is anticipated to be $2.65.
ABIOMED, Inc., launched on June 4, 1987, is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart. The Business’s product portfolio includes the Impella 2.5, Impella CP, Impella RP, Impella LD, Impella 5.0 and AB5000. Its products are used in the cardiac catheterization lab (cath lab), by interventional cardiologists, the electrophysiology lab, the hybrid lab and in the heart surgery suite by heart surgeons..