Rhenman Partners Asset Management Ab Lowers stake in ABIOMED (ABMD)

ABIOMED (ABMD) : Rhenman Partners Asset Management Ab reduced its stake in ABIOMED by 16.0% during the most recent quarter end. The investment management company now holds a total of 105,000 shares of ABIOMED which is valued at $12,450,900 after selling 20,000 shares in ABIOMED , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.ABIOMED makes up approximately 1.99% of Rhenman Partners Asset Management Ab’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in ABMD by selling 4,730 shares or 5.33% in the most recent quarter. The Hedge Fund company now holds 83,933 shares of ABMD which is valued at $9,952,775. ABIOMED makes up approx 0.02% of California State Teachers Retirement System’s portfolio. Essex Investment Management Co added ABMD to its portfolio by purchasing 3,918 company shares during the most recent quarter which is valued at $454,370. ABIOMED makes up approx 0.07% of Essex Investment Management Co’s portfolio.Diversified Trust Co reduced its stake in ABMD by selling 2,090 shares or 13.28% in the most recent quarter. The Hedge Fund company now holds 13,645 shares of ABMD which is valued at $1,582,411. ABIOMED makes up approx 0.22% of Diversified Trust Co’s portfolio.Meeder Asset Management Inc reduced its stake in ABMD by selling 5,671 shares or 76.31% in the most recent quarter. The Hedge Fund company now holds 1,761 shares of ABMD which is valued at $204,716. ABIOMED makes up approx 0.02% of Meeder Asset Management Inc’s portfolio.Creative Planning reduced its stake in ABMD by selling 458 shares or 41.64% in the most recent quarter. The Hedge Fund company now holds 642 shares of ABMD which is valued at $75,438.

ABIOMED opened for trading at $118.73 and hit $121.57 on the upside on Thursday, eventually ending the session at $121.41, with a gain of 2.39% or 2.83 points. The heightened volatility saw the trading volume jump to 5,49,692 shares. Company has a market cap of $5,188 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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