Short Interest in ABIOMED, Inc. (NASDAQ:ABMD) Decreases By 5.3%

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ABIOMED, Inc. (NASDAQ:ABMD) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 2,254,900 shares, a decline of 5.3% from the May 30th total of 2,381,700 shares. Based on an average trading volume of 737,100 shares, the short-interest ratio is presently 3.1 days. Approximately 5.1% of the shares of the company are sold short.

Shares of NASDAQ:ABMD opened at $260.58 on Tuesday. The company has a 50-day simple moving average of $260.94. ABIOMED has a one year low of $228.00 and a one year high of $459.75. The stock has a market capitalization of $11.78 billion, a PE ratio of 72.38, a price-to-earnings-growth ratio of 2.08 and a beta of 0.32.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.53. ABIOMED had a net margin of 33.66% and a return on equity of 20.32%. The business had revenue of $207.08 million for the quarter, compared to analyst estimates of $218.88 million. During the same period in the previous year, the business posted $0.80 earnings per share. The business’s revenue was up 18.7% compared to the same quarter last year. On average, analysts anticipate that ABIOMED will post 4.5 earnings per share for the current year.

A number of brokerages recently weighed in on ABMD. Zacks Investment Research cut shares of Haynes International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. BidaskClub raised shares of ZIOPHARM Oncology from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 17th. SunTrust Banks boosted their price target on shares of Paylocity to $108.00 and gave the company a “positive” rating in a research report on Friday, May 3rd. BTIG Research reissued a “buy” rating on shares of ABIOMED in a research report on Tuesday, May 7th. Finally, ValuEngine cut shares of Whiting USA Trust II from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. ABIOMED currently has a consensus rating of “Hold” and an average price target of $378.00.

In related news, Director Martin P. Sutter sold 4,664 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $259.97, for a total value of $1,212,500.08. Following the completion of the sale, the director now directly owns 192,550 shares of the company’s stock, valued at $50,057,223.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the company. OLD National Bancorp IN acquired a new position in ABIOMED during the second quarter worth about $254,000. Beech Hill Advisors Inc. acquired a new position in ABIOMED during the second quarter worth about $287,000. Altfest L J & Co. Inc. acquired a new position in ABIOMED during the second quarter worth about $312,000. Altman Advisors Inc. grew its position in ABIOMED by 43.2% during the second quarter. Altman Advisors Inc. now owns 4,130 shares of the medical equipment provider’s stock worth $1,076,000 after buying an additional 1,246 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new position in ABIOMED during the second quarter worth about $1,912,000. Institutional investors and hedge funds own 86.79% of the company’s stock.

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 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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