CIBC Asset Management Inc Acquires 150 Shares of ABIOMED, Inc. (ABMD)

CIBC Asset Management Inc lifted its holdings in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,856 shares of the medical equipment provider’s stock after purchasing an additional 150 shares during the period. CIBC Asset Management Inc’s holdings in ABIOMED were worth $1,734,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of ABIOMED by 2.9% during the first quarter. Principal Financial Group Inc. now owns 183,416 shares of the medical equipment provider’s stock worth $53,372,000 after buying an additional 5,158 shares in the last quarter. IFM Investors Pty Ltd acquired a new position in shares of ABIOMED during the second quarter worth about $765,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of ABIOMED during the second quarter worth about $245,000. State of Alaska Department of Revenue grew its position in shares of ABIOMED by 82.0% during the second quarter. State of Alaska Department of Revenue now owns 6,880 shares of the medical equipment provider’s stock worth $2,813,000 after buying an additional 3,100 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in shares of ABIOMED by 52.5% during the second quarter. Xact Kapitalforvaltning AB now owns 8,303 shares of the medical equipment provider’s stock worth $3,396,000 after buying an additional 2,859 shares in the last quarter. Institutional investors own 87.14% of the company’s stock.

Shares of NASDAQ ABMD opened at $405.17 on Friday. ABIOMED, Inc. has a twelve month low of $186.72 and a twelve month high of $459.75. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of 133.37, a PEG ratio of 3.37 and a beta of 0.35.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, November 1st. The medical equipment provider reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.36. ABIOMED had a return on equity of 20.09% and a net margin of 27.60%. The company had revenue of $181.78 million during the quarter, compared to analysts’ expectations of $175.41 million. During the same quarter in the previous year, the business earned $0.54 earnings per share. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. As a group, equities research analysts expect that ABIOMED, Inc. will post 3.57 EPS for the current year.

In other ABIOMED news, VP Michael G. Howley sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 48,954 shares in the company, valued at $21,172,605. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Andrew J. Greenfield sold 4,440 shares of the business’s stock in a transaction that occurred 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 insiders.

A number of brokerages have recently commented on ABMD. Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. BTIG Research raised ABIOMED from a “neutral” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Friday, November 2nd. Morgan Stanley boosted 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. BidaskClub upgraded ABIOMED from a “hold” rating to a “buy” rating in a research note on Wednesday, September 5th. Finally, ValuEngine cut ABIOMED from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 18th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $402.78.

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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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