Alps Advisors Inc. Has $1.17 Million Holdings in ABIOMED, Inc. (ABMD)

Alps Advisors Inc. cut its stake in ABIOMED, Inc. (NASDAQ:ABMD) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,602 shares of the medical equipment provider’s stock after selling 196 shares during the quarter. Alps Advisors Inc.’s holdings in ABIOMED were worth $1,170,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ABMD. Cambridge Investment Research Advisors Inc. raised its stake in shares of ABIOMED by 1.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 9,139 shares of the medical equipment provider’s stock worth $3,738,000 after buying an additional 146 shares during the period. World Asset Management Inc raised its stake in shares of ABIOMED by 5.2% during the 3rd quarter. World Asset Management Inc now owns 2,976 shares of the medical equipment provider’s stock worth $1,338,000 after buying an additional 146 shares during the period. Wealthsource Partners LLC raised its stake in shares of ABIOMED by 24.6% during the 2nd quarter. Wealthsource Partners LLC now owns 887 shares of the medical equipment provider’s stock worth $363,000 after buying an additional 175 shares during the period. Advisor Partners LLC raised its stake in shares of ABIOMED by 26.4% during the 2nd quarter. Advisor Partners LLC now owns 1,057 shares of the medical equipment provider’s stock worth $432,000 after buying an additional 221 shares during the period. Finally, Balasa Dinverno & Foltz LLC raised its stake in shares of ABIOMED by 9.7% during the 2nd quarter. Balasa Dinverno & Foltz LLC now owns 2,647 shares of the medical equipment provider’s stock worth $1,083,000 after buying an additional 235 shares during the period. 86.86% of the stock is owned by institutional investors.

In related news, VP Michael G. Howley sold 10,000 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $432.50, for a total value of $4,325,000.00. Following the completion of the transaction, the vice president now directly owns 48,954 shares of the company’s stock, valued at approximately $21,172,605. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew J. Greenfield sold 4,440 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $395.00, for a total value of $1,753,800.00. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

NASDAQ ABMD opened at $341.20 on Thursday. ABIOMED, Inc. has a one year low of $180.12 and a one year high of $459.75. The firm has a market capitalization of $14.83 billion, a P/E ratio of 139.27, a PEG ratio of 3.42 and a beta of 0.03.

Several brokerages have recently weighed in on ABMD. Morgan Stanley upped their target price on ABIOMED from $370.00 to $396.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 11th. Zacks Investment Research raised ABIOMED from a “hold” rating to a “buy” rating and set a $457.00 price objective for the company in a research note on Tuesday, July 10th. ValuEngine downgraded ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 18th. Finally, BidaskClub downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $384.38.

About ABIOMED

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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Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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