Cupps Capital Management Lowers stake in ABIOMED (ABMD)

ABIOMED (ABMD) : Cupps Capital Management reduced its stake in ABIOMED by 28.15% during the most recent quarter end. The investment management company now holds a total of 199,584 shares of ABIOMED which is valued at $18.8 Million after selling 78,177 shares in ABIOMED , the firm said in a disclosure report filed with the SEC on May 12, 2016.ABIOMED makes up approximately 3.71% of Cupps Capital Management’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities added ABMD to its portfolio by purchasing 9,851 company shares during the most recent quarter which is valued at $926,782. ABIOMED makes up approx 0.01% of Sg Americas Securities’s portfolio. Mckinley Capital Management Delaware added ABMD to its portfolio by purchasing 45,121 company shares during the most recent quarter which is valued at $4.2 Million. ABIOMED makes up approx 0.21% of Mckinley Capital Management Delaware’s portfolio.Municipal Employees’ Retirement System Of Michigan boosted its stake in ABMD in the latest quarter, The investment management firm added 490 additional shares and now holds a total of 8,320 shares of ABIOMED which is valued at $789,901. ABIOMED makes up approx 0.05% of Municipal Employees’ Retirement System Of Michigan’s portfolio. Telemus Capital added ABMD to its portfolio by purchasing 11,000 company shares during the most recent quarter which is valued at $1.1 Million. ABIOMED makes up approx 0.18% of Telemus Capital’s portfolio. Quadrant Capital Group added ABMD to its portfolio by purchasing 103 company shares during the most recent quarter which is valued at $10,005. ABIOMED makes up approx 0.01% of Quadrant Capital Group’s portfolio.

ABIOMED opened for trading at $96 and hit $97.32 on the upside on Friday, eventually ending the session at $97.28, with a gain of 2.01% or 1.92 points. The heightened volatility saw the trading volume jump to 3,90,928 shares. Company has a market cap of $4,143,739 M.

On the company’s financial health, ABIOMED reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.18. The company had revenue of $94.00 million for the quarter, compared to analysts expectations of $90.46 million. The company’s revenue was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.24 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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