Cupps Capital Management Lowers stake in ABIOMED (ABMD)

ABIOMED (ABMD) : Cupps Capital Management reduced its stake in ABIOMED by 55.73% during the most recent quarter end. The investment management company now holds a total of 60,492 shares of ABIOMED which is valued at $7,969,216 after selling 76,161 shares in ABIOMED , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.ABIOMED makes up approximately 3.46% of Cupps Capital Management’s portfolio.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in ABMD in the latest quarter, The investment management firm added 271 additional shares and now holds a total of 13,482 shares of ABIOMED which is valued at $1,776,119. ABIOMED makes up approx 0.04% of Oregon Public Employees Retirement Fund’s portfolio. Simplex Trading sold out all of its stake in ABMD during the most recent quarter. The investment firm sold 11,001 shares of ABMD which is valued $1,413,298.Bnp Paribas Arbitrage Sa reduced its stake in ABMD by selling 11,584 shares or 72.12% in the most recent quarter. The Hedge Fund company now holds 4,478 shares of ABMD which is valued at $570,721.

ABIOMED closed down -4.16 points or -3.16% at $127.58 with 3,07,978 shares getting traded on Tuesday. Post opening the session at $131.73, the shares hit an intraday low of $126.53 and an intraday high of $131.73 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, ABIOMED reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.24. The company had revenue of $103.00 million for the quarter, compared to analysts expectations of $97.48 million. The company’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Abiomed Inc. is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company’s products include Impella 2.5 a percutaneous micro heart pump with an integrated motor and sensors; Impella CP which is primarily used by either interventional cardiologists to support patients in the catheter lab or by surgeons in the heart surgery suite; Impella 5.0 and Impella LD a percutaneous micro heart pumps with integrated motors and sensors for use primarily in the heart surgery suite; Impella RP a percutaneous catheter-based axial flow pump that is designed to allow greater than four liters of flow per minute; AB5000 a circulatory support system for the temporary support of acute heart failure patients in profound shock and Symphony a minimally invasive implantable cardiac assist device.

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