Falcon Point Capital Lowers stake in ABIOMED (ABMD)

ABIOMED (ABMD) : Falcon Point Capital reduced its stake in ABIOMED by 7.28% during the most recent quarter end. The investment management company now holds a total of 85,726 shares of ABIOMED which is valued at $9,941,644 after selling 6,733 shares in ABIOMED , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.ABIOMED makes up approximately 1.67% of Falcon Point Capital’s portfolio.

Other Hedge Funds, Including , Strs Ohio reduced its stake in ABMD by selling 44,000 shares or 38.31% in the most recent quarter. The Hedge Fund company now holds 70,867 shares of ABMD which is valued at $8,218,446. ABIOMED makes up approx 0.04% of Strs Ohio’s portfolio.Yhb Investment Advisors boosted its stake in ABMD in the latest quarter, The investment management firm added 767 additional shares and now holds a total of 9,167 shares of ABIOMED which is valued at $1,065,664. ABIOMED makes up approx 0.23% of Yhb Investment Advisors’s portfolio. Braver Wealth Management sold out all of its stake in ABMD during the most recent quarter. The investment firm sold 3,250 shares of ABMD which is valued $381,891.Gw&k Investment Management boosted its stake in ABMD in the latest quarter, The investment management firm added 3,065 additional shares and now holds a total of 31,251 shares of ABIOMED which is valued at $3,672,149. ABIOMED makes up approx 0.07% of Gw&k Investment Management’s portfolio.

ABIOMED opened for trading at $115.24 and hit $119.93 on the upside on Friday, eventually ending the session at $117.97, with a gain of 2.56% or 2.94 points. The heightened volatility saw the trading volume jump to 8,80,073 shares. Company has a market cap of $5,041 M.

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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